(Bloomberg) -- France, Portugal and some other countries are ready to give up part of their special drawing rights to triple the share of International Monetary Fund’s resources earmarked for African countries struggling with the coronavius pandemic.
Africa has been allocated $33 billion from the new funding and a collective effort is underway to to boost that amount to $100 billion, President Emmanuel Macron says in a live-streamed conference.
“We have decided to work together over the next weeks to reach a political agreement” by October, Macron said. “We need to more than triple the natural envelope that would have gone to Africa,” he said.
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