"The problem is that the ratings we are making for the African should be different," Ibrahima Sory Sylla, ambassador for the West African country ofThe number of people in West Africa experiencing an acute lack of food surged by nearly 40% in a year, according to ain December citing the United Nation's World Food Programme. The figure surged 60% during that time for the number of East Africans, the report said.
"What we can understand is that so many through the G20 suspension initiative, they said you have to go through this initiative, but when you , they suddenly decided to downgrade your risk," Senegal's Sylla said."And most of the developed countries, the Western countries, they can go beyond to 200% of the ratio between the debt and the GDP. Their rating is not downgraded.
"Many times, the IMF chief at the desk, try their best to stretch the envelope for the country," Thia said at the same event Thursday. From 2000 to 2020, China loaned $160 billion to African countries, according to a report released Thursday by Peking University's Institute of New Structural Economics. The research claimed every 1% increase in Chinese loans resulted in an increase of 0.176% in African economic growth.
"I think the majority of the loans has to be extended because that's the only way we can be given breathing space to be able to meet the requirements but also to invest in the social sense," he said.