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Many African heads of state are meeting in Paris for a summit on the financing of their economies weakened by the Covid-19 crisis. In an interview with France 24, the director of the International Monetary Fund, Kristalina Georgieva, warns the international community of an increase in inequalities, “a dangerous divergence” which would be “a missed opportunity for world economic growth” but above all a source of insecurity and instability.
The issue of debt is also at the heart of the IMF’s concerns, as some countries on the African continent “are caught by the throat” with “dangerously high” debt levels. Kristalina Georgieva believes that a case-by-case reduction in the debt burden is “wise” rather than blanket debt cancellation. “Some African countries are opposed to a general cancellation of the debt, the good students in particular whose debt remains reasonable and who view a general cancellation with a dim view,” she underlines.