The International Monetary Fund Managing Director Kristalina Georgieva and Sweden’s Finance Minister Magdalena Andersson–the new Chair of the International Monetary and Financial Committee (IMFC), the International Monetary Fund’s primary advisory board discussed updates on the multilateral organization’s post COVID-19 economic recovery for Africa and plans to help Sudan with debt relief. Listen to the audio conversation.
Here’s excerpts from their remarks:
“It’s very important that we stand by Africa otherwise we face the risk of losing the progress that have been made, impressive progress that have been made over the last three decades unless we act very decisively,” said the IMF Managing Director Kristalina Georgieva. “Africa in 2020 shrank for the first time since the majority of African countries obtained their independence.”
The IMFC Chairman Andersson added that the development growth that have taken place in Africa over the past decades- poverty reduction over the last decades is fantastic. “So many families have been lifted out of poverty and the setbacks during this crisis are very worrying. I say support from the IMF, World Bank and other international institutions will be very important in the coming years to make sure we can do what need to do to put Africa back on track for economic development,” said IMFC Chair Andersson.