During the twentieth session of the Africa Forum of the Organization for Economic Cooperation and Development (OECD), held virtually, Secretary General Ángel Gurría highlighted that as a result of the pandemic, the regional Gross Domestic Product contracted by 3.0 percent.
He also highlighted a 9.0 percent drop in remittances and a 40 percent decline in foreign direct investment.
Gurría proposed a more efficient control and more diversified economies by expanding on the continental situation.
For his part, the president of Senegal, Macky Sall, stated that health and the economy go hand in hand.
The president stressed the importance of a reduction in external debt that enables African countries, with economies strongly affected by the pandemic, to invest more resources in strengthening their health systems and economic recovery programs.
” The African only represents two percent of the global volume of debt,” said the president, who took advantage of the meeting to report that Senegal will donate vaccines against Covid-19 to its neighbors Gambia and Guinea Bissau as an expression of solidarity.
In his speech, the president of Madagascar, Andry Rajoelina, emphasized the imperative of working towards a self-sufficient Africa, more industrialized and partially independent of global supply chains.
“Africa imports 94 percent of its medical supplies,” said the Malagasy ruler, for whom the continent “has the necessary resources and know-how” to replace that demand.
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