A total of US $ 100 billion of the total sum of the Special drawing rights (DEG) issued by the International Monetary Fund (IMF) to face the health crisis of the pandemic of COVID-19, will be returned to vulnerable countries.
This amount is part of the global amount of 650,000 million dollars of the DEG issued by the multilateral entity to face the crisis caused by the pandemic.
“We welcome recent donation pledges worth around $ 45 billion as a step towards the ambitious $ 100 billion in voluntary contributions to countries most in need,” said leaders at the Rome summit. .
It should be noted that DEG They are distributed according to the quotas of each country in the IMF, so most of it goes to the rich countries.
In this way, Africa would only benefit from US $ 34,000 million.
For this reason, the idea arises of some developed countries to give back their share to the neediest countries.
Canada will distribute to developing nations 20% of its special drawing rights issued by the IMF to accompany the post-covid economic recovery, said its Finance Minister, Chrystia Freeland, in Rome on Saturday, October 30.
Before, France had committed to “redirect 20% of the money it receives from IMF towards the African continent ”, said the French president, Emmanuel Macron.
“If all the great powers do the same as France, then we will reach” the goal of returning $ 100 billion to Africa, Macron declared in September.
The UK also made a similar commitment of 20%, while Japan promised to contribute $ 4 billion.
With information from AFP.
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