Rwanda’s President Paul Kagame warns of dire consequences for African economies

Share this story

Rwanda’s President Paul Kagame has warned that it could take “a generation or more” for Africa to recover from the shock of the Covid-19 pandemic.

He told the UK Financial Times that the continent would need at least $100bn (£80bn) in foreign support. 

The World Bank has already warned that Africa will slip into recession, its first in 25 years, as global trade shrinks and commodity prices continue to fall.

Mr Kagame said he was confident progress could be made following what he called “good engagement” from “partners such as France, Germany, China and the US”.

Nations belonging to the G20 group of leading economies last week agreed to suspend debt payments owed to them by some of the world’s poorest countries, including many in Africa.

Africa has confirmed more than 21,000 Covid-19 cases so far. Last week the World Health Organization warned the continent could become the next epicentre of the coronavirus outbreak.

UN officials say it is likely the pandemic will kill at least 300,000 people in Africa and push nearly 30 million into poverty.

299 Views

Share this story

Leave a Reply

Your email address will not be published. Required fields are marked *