Kristalina Georgieva highlighted that the IMF is working closely with African countries by providing significant liquidity and reserves, especially during the COVID-19 pandemic, with 16 times higher lending than normal.
Georgieva expressed the IMF's focus on identifying unsustainable debt among African nations and mentioned their efforts in restructuring through the common framework, benefiting countries like Chad, Ghana, Zambia, and Ethiopia.
The IMF's commitment to supporting Africa includes providing about $1 billion in debt relief during COVID to the 29 poorest members, primarily located in Africa, and emphasizing that growth is essential for overcoming debt challenges.
The IMF is enhancing representation for sub-Saharan Africa, with plans to add a new board member from the region on November 1, signifying a commitment to improving governance and equity.
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