IMF Chief: Africa Faces Projected Financing Gap of $345 Billion Through 2023

International Monetary Fund Managing Director Kristalina Georgieva. BRENDAN SMIALOWSKI / AFP

IMF Managing Director Kristalina Georgieva implored the international community to “do more to support Africa” to help recover from the worsening economic crisis on the continent brought on by the COVID-19 pandemic. 

She said lenders and international NGOs have so far only committed a quarter of the financing needed, and that the continent currently faces a $345 billion financing gap. This year alone, the IMF forecasts a shortfall of $44 billion across Africa due in part to debt servicing costs to China and other lenders. (THE INTERNATIONAL MONETARY FUND)

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by Eric Olander

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