Senegalese President Macky Sall on Thursday asked for the extension into 2021 of the African debt moratorium by the G20, arguing the need to revive the continent's economy, very weakened by the health crisis.
Read also: Macky Sall: "An Africa powerless in the face of Covid-19 would be a threat to the world"
In mid-April, the G20 countries took the unprecedented decision to suspend until the end of the year the debt repayments of the poorest countries, facing a flight of capital and falling tax revenue due to the pandemic.
" This moratorium must be revised to really allow us to benefit from these deferrals of reimbursement ", declared the Senegalese head of state before the summer school of Medef, a powerful French employers' union, near Paris. “ The African Union wishes to work with its partners for an extension of the G20 moratorium over the year 2021. In exceptional circumstances, exceptional measures! ", he added.
Read also: Coronavirus: Emmanuel Macron calls for a moratorium on the debt of African countries
For example, Macky Sall recalled that the growth rate of his country, initially projected at 6.8%, would expect at best 1.1% in 2020, pleading for aid that allows Africa " to have budgetary spaces entirely devoted to the health response, to economic and social resilience and above all to safeguarding employment ”.
Macky Sall is in France for two days and met with President Emmanuel Macron on Wednesday. He noted the abundance of financial rescue plans launched within the European Union.
" The sacrosanct rule of budgetary discipline, according to which annual deficits must not exceed 3% of GDP, is now being ruled out to deal with the crisis everywhere in the world ", he argued. " It is with the same spirit that the issue of debt burden relief should be considered to support Africa in its efforts, " he added, affirming that " with an amount of 365 billion dollars, the African debt represents only 2% of the volume of the world debt ”.
In March, Macky Sall called for the cancellation of public debt and the rescheduling of Africa's private debt.
