Ramaphosa calls on credit rating agencies give African countries a breather
President Cyril Ramaphosa has called on credit rating agencies not to take advantage of Africa's credit relief measures.
Ramaphosa has likened them to deterrents who want to take advantages of 'credible and transparent credit relief measures.'
He was speaking at the Paris Summit on the Financing of African economies on Tuesday.
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The president says the most important task at hand is to protect and save lives, and not deter economic growth on the continent.
"Following two decades of economic reform, the ability of many countries on the continent to implement macroeconomic policies that support a sustainable recovery is now constrained.
"To boost the prospects for a strong and sustainable recovery, African governments need to mobilise significant additional external financing, with the assistance of the international community," says Ramaphosa.
Read the full speech below:
