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Facility to Help Ease African Debt Crises Launched in France

  • Mechanism will tackle debt problems, commodity fluctuations
  • Finance for Development Lab announces creation of facility
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The creation of a finance facility to protect African nations against volatile commodity prices and onerous debt has been announced by the Finance for Development Lab, a Paris-based development-finance think tank. 

The African Liquidity and Stability Mechanism was announced at the launch of the think tank on Thursday at an event attended by World Trade Organization Director-General Ngozi Okonjo-Iweala and 2019 Nobel Prize in Economics winner Esther Duflo.