The continent must be accorded damages and liability compensation from China, the rich and powerful country that failed to transparently and effectively manage this global catastrophe. Africa’s economic gains since the last global crisis have been eroded. It is time to make offending rich countries pay the poor ones a global risk burden tax for delaying their rise out of poverty.
Today, Africa is home to more than 70 percent of the world’s poorest people, with more than 400 million living below the poverty line. It is no surprise that it is disproportionately vulnerable to this crisis. It should not suffer even more because yet another powerful country failed to act responsibly.
China should immediately announce a complete write-off of the more than $140 billion that its government, banks and contractors extended to countries in Africa between 2000 and 2017. This would provide partial compensation to African countries for the impact that the coronavirus is already having…
Source: Linda Ikeji