Coronavirus: Ethiopia implore World Bank to forgive Africa’s debt, requests for additional $150 billion for health financing

This is aimed at boosting the continent’s response to the coronavirus outbreak.

In a statement issued by the government, Ethiopia said Africa’s ability to cushion its firms and workers from the impact of the pandemic is contained by its debt burden.

Adding that "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.”

The government further noted in its three-point submission to the G20 group of countries, the Horn of Africa nation proposes a $150 billion emergency health financing and budgetary support from the World Bank.

Also, Ethiopia is looking for support to the World Health Organization (WHO) to strengthen public health delivery and emergency preparedness in Africa.

About the G20 conference

The G20 is an annual forum of leaders from the countries with the largest and fastest-growing economies, whose members account for 85% of the world's GDP, and two-thirds of its population.

The G20 leaders are expected to meet in a virtual summit later this week.