On Tuesday, the 18th of May, 2021, President Muhammadu Buhari requested that European countries and international financial institutions consider mitigating the overwhelmingly negative effects of the Coronavirus pandemic on the economy of African countries by granting debt relief.
President Muhammadu Buhari made this request while attending the Financing Africa Summit at the Grande Palais Ephemere in Paris, France. The summit was themed “External Financing and Debt Treatment.”
The president noted that multiple countries in Africa were already struggling with debt-related challenges despite the suspension of debt service by France as well as the G-20.
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President Muhammadu Buhari also mentioned that African countries need more affordable and sustainable financing solutions.
He then asked that the international community releases vaccines to the African populace. He mentioned the negative impact on the prices of goods and services as well as the health facilities as COVID-19 started to affect the global economy.
“It is in this vein that we solicit the support of the French government, with its influence in the European Union, to lend its voice to the efforts being made to mobilize additional resources for developing economies most especially in Africa, in order to strengthen the quantum of investments to our economies.
”This financial support should also be extended to the private sector,” he said.