UNECA proposes emergency economic stimulus of $100 billion for Africa

The outbreak of the pandemic coronavirus has left countries worldwide to ponder upon the economic burden it will and is positing. The economic slowdown will mostly affect the developing nations and poor countries and will take development on a downward slide.

Per the United Nations Economic Commission for Africa, the continent is two to three weeks away from the worst of the coronavirus storm and needs an emergency economic stimulus of $100 billion. The amount is essential for the countries facing COVID-19 outbreak so as to support its fragile healthcare systems and boost preventative measures.

The UNECA added that almost half of the funds could come from waiving interest payments to multilateral institutions. Per reports, Africa accounts for 1% of global health expenditure, while it carries 23% of the disease burden.

Per the Africa Centre for Disease Control and Prevention, there are more than 5,000 Covid-19 infections in 48 countries across the continent upto March 31.

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