African Union Commission Chairman: Africa needs $154 billion to effectively deal with economic crisis – Xinhua English.news.cn

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[Chairman of the African Union Commission: Africa needs US$154 billion to effectively deal with the economic crisis]On February 2, local time, at the 40th regular session of the African Union Executive Council, one of the series of meetings of the African Union summit this year, Chairman of the African Union Commission Moussa · Faki said in his speech that due to the impact of the new crown epidemic, the African continent is facing an economic recession for the first time in decades. Economic activity in Africa has dropped by 2%, inflation has increased, and the debt burden has increased, which are seriously jeopardizing the post-epidemic economic recovery. (CCTV News Client)

On February 2, local time, at the 40th AU Executive Council Regular Session, one of the series of meetings of the AU Summit this year, Moussa Faki, Chairman of the AU Commission, said in his speech that due to the impact of the new crown epidemic, the African continent has become more Facing a recession for the first time in decades, Africa’s economic activity has fallen by 2%, with rising inflation and rising debt burdens seriously jeopardizing the post-pandemic economic recovery.

Moussa Faki said that according to African developmentBankAccording to the study, Africa will need to mobilize $154 billion to effectively deal with the economic crisis caused by the epidemic. Although the African Continental Free Trade Area Agreement, which will be implemented from January 1, 2021, has made some progress, in order to achieve the regional integration development goals of the African continent, countries still need to work together to promote development and facilitate development in terms of policies. The best state of operation of the Continental Free Trade Area. Furthermore, at the international level, individualism and unilateralism pose a serious threat to multilateralism, weakening the momentum of international solidarity, which also affects Africa’s economic recovery.

At the regular meeting of the African Union Executive Council, Moussa Faki also pointed out that Africa’s pace in fighting the new crown epidemic is still very slow. Currently, only 10% of the African population is fully vaccinated, and 11% of the population is partially vaccinated. , the need to improve health systems is extremely urgent.

(Article source: CCTV News Client)

Article source: CCTV News Client

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AU Commission Chairman: Africa needs $154 billion to effectively deal with economic crisis