UN General Assembly
2020

The devastating impact of the crisis on our economies is indisputable! The collapse of economic growth and consequent dearth of sources of foreign exchange and shock to commodity prices, well as the decline in exports, investments and migrant remittances, have put the world economy in an crisis situation the likes of which have not been seen since the 1930s. Although it had initiated sustained growth dynamics, Africa, like the rest of the world, is suffering the full impact of the far-reaching crisis. Therefore, in order to ensure a proper recovery of our economies and ensure global sociopolitical stability, we will need to further focus on international solidarity and cooperation. That is why His Excellency Mr. Macky Sail has called for the cancellation of public debt and the restructuring of private debt, as well as on developed countries to honour their commitments to official development assistance. I would like to take this opportunity to commend the efforts made by the members of the G-20, the World Bank and the International Monetary Fund in support of the Debt Service Suspension Initiative.