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A train steward wearing personal protective equipment (PPE), waits for passengers to board the Standard Gauge Railway (SGR) train in Nairobi after the Kenyan government started easing the lockdown restrictions following the outbreak of COVID-19 coronavirus in the country, and allowed passenger trains to resume operations. Simon MAINA / AFP
The recent announcement that Zambia will default on several of its Eurobond notes, and the indication from ratings agencies that several other African countries are in similar danger are just the latest indicators of how the economic crisis kicked off by the pandemic is impacting African economies.  But the genesis of the ...

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“Participation by the private sector, by commercial lenders in the DSSI would provide much welcome additional breathing space to the poorest countries as they cope with the pandemic. And even as private sector participation in the initiative remains voluntary, the Fund and the World Bank support efforts by the G20 and other creditor countries to encourage their private-sector creditors to participate in the DSSI.”

Gerry Rice, Director of Communications at the International Monetary Fund

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