China has announced it will cancel interest-free loan of African countries that was originally due to mature by the end of 2020. President Xi (above) said the move was part of Beijing's efforts to relieve virus-stricken countries in financial distress. He also pledged Beijing would ensure African countries are among the first to benefit from a Covid-19 vaccine as soon as it is approved. President Uhuru Kenyatta thanked China for the Covid-19 related support given to African countries including Kenya. Treasury has downgraded this year’s economic growth outlook to between 1.8 and 2.5 per cent from the forecast six per cent.

Source: Standard Digital June 18, 2020 18:31 UTC