Advanced economies, including the US, UK, France, Germany, Italy, Japan and Canada (G7 members), received eight times more financial assistance from the International Monetary Fund (IMF) than African countries. Words by UN Secretary-General António Guterres opens prime agency
While the G7 countries received a total of $280 billion from the IMF, African countries received only $34 billion, there is “fundamentally wrong” in such a distribution of financial aid.
“The IMF provided $650 billion in special drawing rights, or SDRs, during the pandemic, essentially creating money from scratch. The G7 countries with a population of 772 million received US$280 billion. In his speech at the G7 summit in Hiroshima, Guterres received $34 billion from the African continent with a population of 1.3 billion.
21 May UN Secretary-General António Guterres He insisted Countries with advanced economies should phase out coal energy use by 2030. This is necessary to combat the climate crisis and global warming.