Understand itse true impact whh has been particularly devastatingar to countries and e most vulnerable communities, women, youth, the elderly. But most importantly, we are here to find Innovative Solutions to i creating change. This is precisely the focus of this Years World Bank which wilwill takeplace starting octod Global Leaders of the government, business and civil society. Just at the stage for the evening we will hear today from World Bank Group david and whato it will take to tackle this crisis and how we can turn this into an opportunity for an inclusive recovery. We will be joined in conversation with the president school of finance and joining from his office in sanford doctor redman has been president of the German Central Bank and is a member of the governing council, represents germany and the imf and other National Bodies and has been chairman of the board of directors of the bank since november, 2015. Welcome. The floor is yours. Thank you for your kind words. Ladies an
Brussels on the Pandemic Recovery plan leaders consider a new proposal will it be enough to break the deadlock. And to government protesters once again descend on the mali and capitol determined to remove the president from power. And the u. K. Suspends its extradition treaty with hong kong in response to chinas controversial new security law. Says the cricket to 20 world cup was postponed until next year because of. Picks were due to japan faces allegations that are abuse of course 50 sports have full details. Theres been a breakthrough in the urgent search for a Coronavirus Vaccine here in the u. K. A candidate treatment developed at unprecedented speed by a team at the university of oxford has shown promising early results Scientists Say its safe for humans and triggered the critical immune response which could stop the virus in its tracks all the findings are encouraging larger trials still need to be done well brennan begins our coverage from oxford. Phase one really couldnt have
President Vladimir Putin stressed that Russia as one of the major shareholders of the World Bank is interested in the further improvement of efficiency in its activity to promote international development and is ready to facilitate it in all aspects
Various international bodies have indicated that sub-Saharan Africa is the region with the fastest growing debt burden in the world, with the pace of increase raising concerns about debt sustainability on the continent.
According to SA Reserve Bank governor Lesetja Kganyago the magnitude, pace and spread of the build-up in debt obligations have raised macroeconomics and financial stability concerns, especially in emerging and developing countries.
Kganyago said: “Debt levels have been increasing considerably during 2020 with the interplay between various factors, most notable the need to manage the impact of the Covid-19 coronavirus pandemic.”
Speaking at the virtual 4th annual Distributed Sovereign Debt Research and Management conference, Kganyago said while debt has a very important role to play in economic development, one should also reflect on the challenges and pitfalls presented by debt to developing countries in sub-Saharan Africa.