Ethiopia seeks debt relief on behalf of Africa

The Ethiopian government has sought financial support from the international community to bolster Africa’s response to the coronavirus pandemic.

In a three-point submission to the G20 group of countries, it proposed a US$150bn emergency health financing support from the World Bank.

It also stated its intention to support the World Health Organisation’s efforts to strengthen public health delivery on the continent.

In addition, Ethiopia seeks debt relief from the members of the G20, arguing Africa’s ability to successfully battle the global health crisis was seriously hampered by its debt burden.

The office of the Prime Minister, Abiy Ahmed, tweeted a statement containing the three-point proposal.

It says “Ethiopia proposes all interest payment to government loans should be written off. In addition, Ethiopia proposes part of the debt of low-income countries should be written off”.

It points to the fact that for low-income African countries, simply servicing their debt to high-income countries costs “significantly more than their annual health budgets”.

The statement signs off with a call for greater international cooperation: “This global pandemic requires a global approach and strategy to stop it.

“More than ever, the global community needs global-level leadership to address this pandemic, its toll on human life and health, as well as the catastrophic impact on the global economy generally”.

G20 leaders are due to hold a virtual conference later this week.

Photo: AFP