France’s Macron Urges G-7 To Sell Gold Reserves To Fund Bailout For Africa
“The peculiarity of Africa is that it does not have the financial means today to protect and revive its economy like all the other continents have done,” French Finance Minister Bruno Le Maire told RFI radio in May.
World finance chiefs agreed in April to boost reserves (SDR)at the International Monetary Fund by $650 billion and extend a debt-servicing freeze to help developing countries deal with the pandemic, although only $34 billion will be allocated to Africa.
“France wants this to go much further by reallocating SDRs that are (scheduled) for developed countries,” an official from the French presidency briefed reporters ahead of the summit.
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