Rwanda : Paul Kagame for debt relief for developing countries

Following his denunciation of the inequality in the distribution of the Covid-19 vaccine, the Rwandan Head of State, Paul Kagame, warns of the risk of widening the gap between developing and rich countries, following the consequences of the pandemic on the economy of these third world countries.

Taking the opportunity of the summit on international debt architecture and liquidity on 30 March 2021, Rwandan Head of State Paul Kagame stressed that « recovery from the Covid-19 pandemic depends on fiscal space. However, there is a clear dividing line in today’s world.
A call for negotiations

The Rwandan leader said that Third World countries are facing pressure from rich countries. Without corrective measures, this divergence will entrench a deeply unequal world order in which the poor have no chance to catch up, » he said.

In his paper, the former Chair of the African Union points out that « negotiations on debt relief for developing countries should be conducted with the welfare of citizens in mind and with a long-term vision of sustainable development goals ».
IMF assurance

Taking part in the summit, Kristalina Gerogieva, Director of the International Monetary Fund (IMF), welcomed the improved global economic outlook, but said the UN agency needs « a comprehensive approach to supporting vulnerable countries and people ». That approach, she said, must include national revenue-raising measures. For now, the IMF is « looking at a new allocation that can meet the global need, » she explained.

The summit on international debt architecture and liquidity was attended by several personalities, including Antonio Guetteres, Secretary General of the United Nations (UN).