IMF Managing Director Kristalina Georgieva on Wednesday appealed for more aid to African countries to help them bounce back from the pandemic.
“Africa is now facing the world’s fastest growth rate for new COVID cases, with an exponential trajectory even more alarming than during the second wave in January,” she said in an address to the African Development Bank’s annual meeting.
“It is a human tragedy — and an economic calamity.”
According to Georgieva, many countries in Sub-Saharan Africa had significant debt levels prior to the pandemic, and they’ve climbed sharply once COVID-19 arrived. “The warning signs are clear: a two-track pandemic is leading to a two-track recovery. Africa is already falling behind in terms of growth prospects,” she said.