During his televised address on Monday evening, Emmanuel Macron called for helping African countries by "massively canceling their debts". Without immediate erasure, a moratorium is being put in place.
The G20 countries should confirm on Wednesday the suspension of 20 billion dollars of payments on 32 billion planned this year for 76 the poorest countries of the world, including 40 in sub-Saharan Africa. This is a carry-over of 12 billion due to bilateral creditors and the refinancing of 8 billion of debts to private creditors. There is still an ongoing debate on 12 billion maturities remaining due to multilateral creditors, a large part of them to the World Bank.
Read also: The G7 is in favor of suspending the payment of the debt of poor countries
France prides itself on having been a driving force in this decision since the start of the crisis. “The President of the Republic called for debt cancellation. This moratorium is already a major step, " welcomes Minister of Economy Bruno Le Maire, who stresses that China has accepted
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