Ramaphosa calls on credit rating agencies give African countries a breather
Updated | By Jacaranda FM News
President Cyril Ramaphosa has called on credit rating agencies not to take advantage of Africa's credit relief measures.
Ramaphosa has likened them to deterrents who want to take advantages of 'credible and transparent credit relief measures.'
Ramaphosa was speaking at the Paris Summit on the Financing of African economies on Tuesday.
The president says the most important task at hand is to protect and save lives, and not deter economic growth on the continent.
"Following two decades of economic reform, the ability of many countries on the continent to implement macroeconomic policies that support a sustainable recovery is now constrained.
"To boost the prospects for a strong and sustainable recovery, African governments need to mobilise significant additional external financing, with the assistance of the international community," says Ramaphosa.
Read the full speech below:
🇿🇦His Excellency President @CyrilRamaphosa arrives at the Élysée Palace to hold a bilateral meeting with His Excellency President @EmmanuelMacron ahead of the Summit for the Financing of African Economies in Paris, France. #SAinFrance 🇫🇷 #BetterAfricaBetterWorld 🌍 pic.twitter.com/6X5dalqbFR
— Presidency | South Africa 🇿🇦 (@PresidencyZA) May 18, 2021
🇿🇦His Excellency President @CyrilRamaphosa meeting His Excellency President @Macky_Sall of the Republic of #Senegal 🇸🇳 ahead of the Summit for the Financing of African Economies in Paris, France. #SAinFrance #BetterAfricaBetterWorld 🌍 pic.twitter.com/85SO51C30x
— Presidency | South Africa 🇿🇦 (@PresidencyZA) May 18, 2021
Show's Stories
-
Man tries to help a baby kangaroo that wandered into his garden
We just have one question... who has a kangaroo costume just lying around?
The Workzone with Alex Jay 1 day, 12 hours ago -
Moms dial in on kid who dances in heels better than most women
This little boy has got moves and makes us want to dance into the weeken...
The Workzone with Elana Afrika-Bredenkamp 1 day, 12 hours ago