La Libra, Facebook's digital currency, announced for 2021 in reduced format

The launch of Facebook's digital currency, Libra , could take place in 2021. The project may benefit from favorable factors in the global economy, but regulators will have to be convinced first.  Facebook could launch Libra, its digital currency in 2021, we learn from the British media Financial Times, which quotes people close to the process. The product is expected to arrive in a limited version, after the project has met with great aversion from regulators, including in the United States, the country where the headquarters of the social media management company are located. The stakeholder association behind this digital currency project is now planning to launch a single version of Libra that will itself be pegged to the dollar, at the rate of one unit of US currency for each Facebook digital currency . “The other forms of currencies will be deployed at a later stage,” the FT source added. The exact launch date will depend on when the project

China-Africa Summit on Covid-19: President Issoufou Mahamadou pleads for a new type of Marshall plan for Africa

The President of the Republic Issoufou Mahamadou pleaded, this Wednesday June 17 at the extraordinary virtual summit China-Africa, for a Marshall plan of new type for the economic revival of the African continent.
President Issoufou Mahamadou pleads for a new type of Marshall plan for Africa

In an intervention, President Issoufou Mahamadou, after reiterating the appreciation and attachment of ECOWAS member countries to the partnership embodied by the Sino-African forum, observed that the "Chinese Government, under the leadership of President Xi Jinping has achieved exceptional results in the fight against Covid-19, which strengthens the esteem and admiration that China enjoys with its African partners.

Much more, estimated the Head of State of Niger, "China has distinguished itself by its contribution at the global level in the fight against the pandemic, notably through coordination with the African Union, the United Nations and the World Health Organization ".

The President-in-Office of the Conference of Heads of State and Government of ECOWAS, on behalf of the member States of the Community, also wished to reiterate his support for the Secretary General of the United Nations and the Director General of the World Organization of Health for their leadership in the management of Covid-19, which notably led to the adoption, by the 73rd WHO Assembly, of the resolution on the response to Covid-19.

ECOWAS member states also welcome the global mobilization to find a vaccine, he said, before mentioning the serious socio-economic consequences of the pandemic on all the countries of the continent, in particular to indicate " that at ECOWAS level for example, the economic growth rate initially forecast at 3.3% in 2020 will drop to -2.1% if the pandemic persists until the end of the year, leading in particular to a drop in tax revenues and increased unemployment and poverty ”.

The Nigerian Head of State then pointed out that certain countries in the Region, notably those in the Sahel and the Lake Chad Basin, are experiencing a triple crisis: health, security and economic. According to him, therefore, Africa must face not only the pandemic, but also the need to revive its economy. "This," he said, "requires exceptional mobilization of financial resources."

“Already, before the pandemic, Africa needed $ 600 billion a year for the achievement of the Sustainable Development Goals and those of Agenda 2063, in particular the objectives of its first ten-year plan 2013-2023 including the structuring projects relate to the African Continental Free Trade Area, infrastructure, industry and agriculture, ”he said.

These two agendas, underlined President Issoufou, “constitute the great vision around which all our energies remain mobilized. It is the only pledge for the continent’s economic takeoff, job creation and income generation for our people, "he said.

To this end, added the Chairman-in-Office of ECOWAS "a decisive step in the implementation of these agendas was taken with the launch, in July 2019 in Niamey, of the African Continental Free Trade Area (ZLECAf) . But for success to be sustainable and other projects to be implemented, it is necessary not only to guarantee funding, but also to guarantee stability, peace and security, "he suggested, noting that at this regard, "China's commitment alongside the African Union for the implementation of the China-Africa cooperation partnership initiative for peace and security, which is in addition to the bilateral cooperation frameworks, is to be welcomed ”.

"We are all aware that without security, there is neither trade nor development", added the Head of State of Niger who later wanted to welcome the measures and initiatives adopted during the various virtual summits of the African Union, particularly with regard to the mobilization of resources and the establishment by the AU of a Task Force against Covid-19.

While welcoming the announcements by the G20 and the Secretary General of the United Nations concerning a moratorium on the debt of the most fragile states, President Issoufou expressed his conviction that a simple moratorium or even a cancellation of the debt will not be enough . " We must go further. We need a Marshall plan of a new type for Africa, which must mobilize resources linked to debt cancellation as well as those of official development aid, foreign direct investments and other innovative financing ”, he pleaded.

Issoufou Mahamadou also praised President Xi Jinping's positive announcements regarding the debt of African countries, which testifies to the depth of the friendship between China and the African continent. "It consolidates the decisions taken at the last FOCAC in the form of eight economic and commercial initiatives financed by China to the tune of 60 billion dollars. They consolidate bilateral actions with each of our States including, for Niger, the recent signing of 4 agreements on the occasion of my official visit to China in May 2019, "he said, specifying that" among these agreements , is the Memorandum of Understanding between the Nigerian and Chinese Governments on the joint promotion of the Belt and the Road, this great project which aims to create a community of destiny for humanity ”.

COVID 19 confirms the existence of this community of destiny which requires the establishment of a new world political and economic order. It is through this ambitious project that the
China, Africa and the other Nations of the world must tackle now and especially after the victory against COVID-19.

By closing the work of this Summit, Chinese President Xi Jinping welcomed his smooth progress, which led to a significant consensus, the Heads of State having committed, among other things, to strengthening support mutual, to build an even stronger China-Africa shared future community, to accelerate the implementation of the Beijing Summit agreements while placing greater emphasis on health and improving the well-being of populations, to oppose the politicization of the pandemic.