Of the $650 billion allocated by the International Monetary Fund (IMF) in the form of special drawing rights (SDRs) during the coronavirus pandemic, Africa received only $34 billion, while the G7 countries received $280 billion, UN Secretary General António Guterres told reporters on the sidelines of the G7 summit .
At the same time, Guterres emphasized that the population of the G7 countries is 772 million people, and 1.3 billion live on the African continent. According to him, the money was allocated “according to the rules, but from a moral point of view, the rules themselves have something fundamental wrong,” RIA Novosti reports.
According to the UN Secretary General, 52 countries in the world are in a debt crisis, are on the verge of a debt crisis or are facing extremely expensive market financing. Middle-income countries, including many small island developing States, are in most cases ineligible for concessional financing and do not have access to debt relief.
The Secretary General addressed the G7 leaders, emphasizing that “rich countries cannot ignore the fact that more than half of the world – the vast majority of countries – is experiencing a deep financial crisis.”
Source: Rosbalt
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