Mark Pawsey
Main Page: Mark Pawsey (Conservative - Rugby)Department Debates - View all Mark Pawsey's debates with the Cabinet Office
(4 years, 5 months ago)
Commons ChamberThe hon. Lady is right that suspension on its own is not an adequate response, but it was the right response to make immediately. She mentions the private sector. The Institute of International Finance is already working with the 450 main private sector lenders and put in place the terms of reference 10 days ago. The private sector, far from being abusive, can join that debt suspension. There will be a case potentially for extending that period and extending relief more generally, and we will continue our discussions with Her Majesty’s Treasury on that. Ultimately, for some countries, cancellation may be an option, but we have to remember that 50% of countries were struggling even before covid.
I was delighted that the chair of the African Union Commission, Moussa Faki, was able to join and speak at the Gavi summit. This week, I would have spoken to all eight AU commissioners. Under our strategic partnership with the AU, we are revising our joint plan to work on covid-19 implications and intend to hold a virtual high-level dialogue later this month. I also speak to member states of the AU more directly.
The pandemic has shown us the vulnerability of not only the health systems in African countries, but their economies. The African Union has warned that nearly 20 million jobs may be lost. Has the Minister seen the excellent work of the African Development Bank as it focuses on the recovery and, in particular, focuses on the private sector as the key to employment and prosperity?
I thank my hon. Friend for that question. He clearly shares my concern that this is an economic crisis as well as a humanitarian and health crisis. The private sector and the African Development Bank play a critical role alongside supply chains, but particularly the ADB in relation to protecting livelihoods. I look forward to working as an alternate governor to the Secretary of State for that great organisation in Abidjan.