President Cyril Ramaphosa, in his capacity as Chairperson of the African Union, has told the virtual high-level event of the World Bank that the financial fallout of the coronavirus pandemic will be severe for both South Africa and the rest of the African continent.
Countries and institutions must do more to help African states weather the global pandemic and its economic impact, the International Monetary Fund said on Friday, noting the region faced a projected financing gap of $345 billion through 2023.
The World Bank Group said on Wednesday it stands ready to assess Lebanon’s damage and needs after a devastating Beirut port explosion and will work to help mobilise public and private financing for reconstruction and recovery.
Finance Minister Tito Mboweni says National Treasury will approach the World Bank for additional funding.
Nigeria’s candidate to head the World Trade Organization (WTO) said she feels “strong support” from Africa and expects African leaders to unite behind one candidate as sources following the race said she is gaining broader backing.