France's Macron wants deal on redirecting $100 bln in IMF reserves to Africa by October

French President Emmanuel Macron welcomes President Cyril Ramaphosa to a dinner with leaders of African states and international organisations on the eve of a summit on aid for Africa, at Elysee Palace in Paris, France on May 17, 2021.
French President Emmanuel Macron welcomes President Cyril Ramaphosa to a dinner with leaders of African states and international organisations on the eve of a summit on aid for Africa, at Elysee Palace in Paris, France on May 17, 2021.
Image: REUTERS/Gonzalo Fuentes

French President Emmanuel Macron said on Tuesday a summit on Africa financing in Paris had agreed to work towards convincing rich nations by October to reallocate $100 billion in IMF special drawing rights monetary reserves to African states.

Macron also said governments should look at how IMF gold reserves can be used to overcome some countries' reluctance to reallocate their SDRs to African countries.

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