The Post COVID investment trip made Antonio Guterres urged debt relief for African countries and more investment to help their economies recover from the COVID-19 pandemic and weather the impacts of the Ukraine war. Supply disruptions due to Russia’s invasion of Ukraine have caused simultaneous food, energy and finance crises in Africa and beyond, Guterres said.
Public debt ratios in sub-Saharan Africa are at their highest in more than two decades, the IMF said last week. It was called on wealthy countries and pharmaceutical companies to accelerate donations of COVID-19 vaccines and invest in local vaccine production, with almost 80% of the African population still not vaccinated against COVID-19.
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