This archive report was first published on 18 May 2020.
As the world grapples with the Covid-19 pandemic, Africa's fragile health systems are facing a daunting challenge. According to a joint statement by the World Bank and International Monetary Fund (IMF), the continent needs an additional $44 billion (Sh4.6 trillion) to fight the virus, despite a freeze in debt payments and massive pledges of support.
Published on May 18, 2020, the statement highlighted the urgent need for funding to support healthcare and economic recovery in Africa. The Washington-based lenders and other official creditors have already mobilized $57 billion (Sh6 trillion) to support the continent, while private funds have contributed $13 billion (Sh1.4 trillion).
Experts fear that Africa's weak health systems will struggle to contain the spread of Covid-19, particularly in the face of a slump in demand for minerals and tourism, as well as lockdowns to stem the contagion. The IMF predicts that Africa's gross domestic product will shrink by 1.6 per cent in 2020, the worst result ever recorded.
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