Africa 'needs $1.2tn' to recover coronavirus losses

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Africa 'needs $1.2tn' to recover coronavirus losses:


The economic damage as well as the health costs caused by coronavirus has left Africa needing $1.2tn (£920bn) over the next three years, the International Monetary Fund has said.

IMF chief Kristalina Georgieva said the world "must do more to support Africa to [recover]... from this crisis".

Africa has had fewer Covid infections and deaths than most other continents.

But the World Bank says 43 million more Africans are at risk of extreme poverty as a result of the pandemic.

The economic impact is reversing the trend in recent years of strong growth in Africa, as jobs have been lost and family incomes have been reduced by 12%, Ms Georgieva told a virtual IMF meeting

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