Africa needs $200 billion in support, stimulus JOHANNESBURG--The COVID-19 pandemic will likely kill at least 300,000 Africans and risks pushing 29 million into extreme poverty, the UN Economic Commiss
ion for Africa said on Friday, calling for a $100 billion safety net for the continent.
UNECA is also backing a call by African finance ministers for an additional $100 billion in stimulus, which would include a halt to all external debt service. Most of Africa, however, has already mandated social distancing measures, ranging from curfews and travel guidelines in some countries to full lockdowns in others.
Africa's young demographic -- nearly 60 percent of the population is below the age of 25 -- should help stave off the disease. On the other hand, 56 percent of the urban population is concentrated in overcrowded slums and many people are also vulnerable due to HIV/AIDS, tuberculosis and malnutrition.
However, that is money Africa does not have as the crisis could also shrink the continent's economy by up to 2.6 percent.
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