{"id":320960,"date":"2021-02-06T11:25:18","date_gmt":"2021-02-06T11:25:18","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=320960"},"modified":"2021-02-06T11:25:18","modified_gmt":"2021-02-06T11:25:18","slug":"south-africas-ramaphosa-says-access-to-concessional-loans-key-to-africas-recovery","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2021\/02\/06\/south-africas-ramaphosa-says-access-to-concessional-loans-key-to-africas-recovery\/","title":{"rendered":"South Africa’s Ramaphosa says access to concessional loans key to Africa’s recovery"},"content":{"rendered":"

Access to loans on favourable terms will be crucial to Africa\u2019s economic recovery from the COVID-19 pandemic, South Africa\u2019s President Cyril Ramaphosa said on Saturday.<\/p>\n

Ramaphosa, who is the outgoing chair of the African Union (AU), told the bloc\u2019s summit that even though the International Monetary Fund (IMF) and the World Bank have deployed significant financial resources for the coronavirus outbreak response, more needed to be done.<\/p>\n

\u201cAssess to concessional finance will remain crucial as countries rebuild their economies,\u201d Ramaphosa told the virtual summit.<\/p>\n

\u201cAn injection of fresh resources by the IMF through reallocating and issuing new special drawing rights, with bias to the developing world, will correct the glaring inequality in fiscal stimulus measures between advanced economies and the rest of the world.\u201d<\/p>\n

Concessional loans generally offer terms that are more favourable to those available on the open market.<\/p>\n

The precarious debt burdens of a number of African nations have worsened due to the economic fallout from the COVID-19 pandemic.<\/p>\n","protected":false},"excerpt":{"rendered":"

Access to loans on favourable terms will be crucial to Africa\u2019s economic recovery from the COVID-19 pandemic, South Africa\u2019s President Cyril Ramaphosa said on Saturday.<\/p>\n","protected":false},"author":4,"featured_media":320961,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22,33],"tags":[243],"class_list":["post-320960","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","category-main","tag-cyril-ramaphosa"],"yoast_head":"\nSouth Africa's Ramaphosa says access to concessional loans key to Africa's recovery - egy-africa<\/title>\n<meta name=\"description\" content=\"Access to loans on favourable terms will be crucial to Africa\u2019s economic recovery from the COVID-19 pandemic, South Africa\u2019s President Cyril Ramaphosa said on Saturday.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/egy-africa.com\/en\/2021\/02\/06\/south-africas-ramaphosa-says-access-to-concessional-loans-key-to-africas-recovery\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South Africa's Ramaphosa says access to concessional loans key to Africa's recovery - egy-africa\" \/>\n<meta property=\"og:description\" content=\"Access to loans on favourable terms will be crucial to Africa\u2019s economic recovery from the COVID-19 pandemic, South Africa\u2019s President Cyril Ramaphosa said on Saturday.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/egy-africa.com\/en\/2021\/02\/06\/south-africas-ramaphosa-says-access-to-concessional-loans-key-to-africas-recovery\/\" \/>\n<meta property=\"og:site_name\" content=\"egy-africa\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-06T11:25:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/egy-africa.com\/en\/wp-content\/uploads\/2021\/02\/107107930_16dd8f4b-6285-47cc-a954-86cf782ac872.jpg?fit=976%2C549&ssl=1\" \/>\n\t<meta property=\"og:image:width\" content=\"976\" \/>\n\t<meta property=\"og:image:height\" content=\"549\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Aya Abdulghany\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Aya Abdulghany\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/egy-africa.com\/en\/2021\/02\/06\/south-africas-ramaphosa-says-access-to-concessional-loans-key-to-africas-recovery\/\",\"url\":\"https:\/\/egy-africa.com\/en\/2021\/02\/06\/south-africas-ramaphosa-says-access-to-concessional-loans-key-to-africas-recovery\/\",\"name\":\"South Africa's Ramaphosa says access to concessional loans key to Africa's recovery - 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