It has taken a pandemic as severe as Covid-19 to jostle Sub-Saharan Africa into action to bolster its vaccine production capacity and capability, ... argues Stavros Nicolaou of Aspen, Africa's biggest drug company. For the first time in the region’s history, the continent is pooling its resources and aggregating volumes to mount a collective and co-ordinated response for its coronavirus vaccine needs.
The framework enables debtor countries to seek an IMF programme to strengthen their economies and renegotiate their debts with public and private creditors. But such a debt restructuring for Ethiopia would face barriers due a lack of transparency, analysts say.
Any attempt to reconcile balance of payments and published public external debt figures with underlying debt-creating flows shows information gaps and supports “a narrative of opaque lending”, argues Irmgard Erasmus, senior financial economist at NKC African Economics in Cape Town.