President Cyril Ramaphosa will on Sunday night leave for Paris, France, to attend the Financing of the African Economies Summit convened by French President, Emmanuel Macron.
The President will join several other African Heads of State as well as leaders of the global financing institutions, such as the IMF and the World Bank.
The summit will look into ways in which Africa can be supported on the economy recovery plan following the crisis caused by the coronavirus pandemic.
President @CyrilRamaphosa to participate in summit on financing for African economies https://t.co/5hMKFOKcdw
— Presidency | South Africa ?? (@PresidencyZA) May 16, 2021
Presidential Spokesperson, Tyrone Seale, says: “The summit also aims to foster investments in Africa and avert the risk of excessive debt. Delegates will among other things deliberate on debt relief and support from the International Monetary Fund through special drawing rights.”
He says leaders will also look at how to provide capital to the private sector on the African continent, to support investments that will catalyse inclusive economic activity, create employment and accelerate the attainment of the economic sustainable goals.
COVID-19 has devastated African economies and economists have said recovery will be slow.
Ramaphosa urges Africa to work towards rebuilding its economy:
