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Africa needs $285 billion by 2025 to try to get its head above water. It comes as the continent s economies struggle after been hit hard by the coronavirus pandemic. Among the avenues discussed at the recently concluded Paris summit on financing the continent s economies was the special drawing rights initiated by the International Monetary Fund (IMF) 52 years ago. This banknote printing facility, used sparingly, gives member countries the possibility of drawing liquidity to supplement their financial reserves. But this alternative is subject to the notion of quotas, which take into account the economic strength of each region of the world. The principle aims to limit the rate of indebtedness but it is seen by many as far from satisfying Africa s expectations. $33 billion are estimated for the continent, but leaders say a minimum of $100 billion is required.

Coted ivoireUnited statesFrance generalIvory coastElvira akploganAfrica ignatius annorArthur gautierChristian adjehounouEquitable cooperative society of bandamaInternational monetary fundFrench development agencyEmmanuel macronExecutive directorBusiness africaIgnatius annorEventually african