Ethiopia, under the leadership of Prime Minister Abiy Ahmed (PhD), proposes part of debt of low-income countries should be written off as a part of efforts to reduce the economic impact of coronavirus crisis.
Explaining COVID-19 is posing a substantial threat to the economy of African countries, Ethiopia said economies, which is fragile and vulnerable even in the best times, in the continent will face serious shocks.
Such challenges cannot be adequately addressed by policies and measures taken individually by any of countries in Africa, the proposal asserted.
Ethiopia also urged leaders of G20 to assist Africa with USD150 billion funding in a bid to cope up with the coronavirus crisis. The East African country also proposed that all interest payment to government loan should be written off.
More than 1500 coronavirus cases are confirmed in Africa so far.