Coronavirus: About 5000 African students call on their gov’ts to save them as 2000 people die in China

Coronavirus: About 5000 African students call on their gov’ts to save them as 2000 people die in China

- About 5000 African students in China have expressed concern about the refusal of their governments to evacuate them from the country

- Students of the Wuhan University of Science and Technology recently embarked on a silent protest in the wake of fresh attacks

- At the moment, over 70,000 people have been affected and over 2000 people have lost their lives in China

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YEN.com.gh has learned that African students studying in China have called out to their governments to help them.

This call comes in the wake of the spread of the coronavirus which has infected over 70,000 people and claimed over 2000 lives in the country.

Several governments, since the outbreak of the virus, have taken steps to evacuate their citizens from the country.

READ ALSO: Olatoye Babatunde: Meet the African student who has volunteered to fight the coronavirus in China

Per a report by cfr.org, China remains Africa’s most important trading partner and its governments of the continent are concerned about the spread of the virus to the continent.

Without doubt, the situation in China’s Wuhan province has taken a psychological toll on the about 5000 African students there.

Many of them have expressed fears about the coronavirus as supermarkets and food joints begin to run out of food and pharmacies report a shortage of masks.

Students from Ghana and Ivory Coast are reportedly frustrated at the refusal of their governments to evacuate them from China.

They do not buy into the opinion that remaining in China is the best option as reports indicate that medical facilities in Wuhan and surrounding areas are struggling to replenish supplies.

A number of African students at the Wuhan University of Science and Technology recently embarked on a silent protest in an effort to register their displeasure at the situation.

In other news, there is renewed concern about the sustainability of Africa’s debts as fresh evidence shows that African countries are paying more for debts accumulated.

Information available shows that much of the debt is being accumulated through foreign currency-denominated Eurobonds which were issued on international financial markets.

READ ALSO: Akufo-Addo reveals VW and Toyota would soon start assembling cars in Ghana

YEN.com.gh understands that the total value of Eurobonds issued between 2018 and 2019 exceeded the value of all bonds sold between 2003 and 2016.

A report by qz.com shows that African governments are currently issuing and listing their Eurobonds.

These are available on recognized international debt markets such as the London and the Irish Stock Exchanges.

African governments, it has been revealed, may not venture offshore if there were active and liquid domestic bond markets.

Apart from the South African market, bond markets in the continent appear to be largely underdeveloped, inactive and illiquid secondary markets.

This, it has been gathered, makes it difficult to attract local participation of international investors.

The International Monetary Fund (IMF) has argued that African countries are issuing Eurobonds, with about half of them at or near levels of distress.

It went on to say that African governments are increasing debts without analyzing the risks associated with the exchange rate as well as the real costs of repaying the debts.

READ ALSO: Fear of spread of coronavirus leads to fall in oil prices

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Source: Yen.com.gh

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