COVID-19 is a Chance for Africa to Have Its Own Marshall Plan—But Not as We Know It | Opinion



After the nightmare of the Second World War, the economies of Western Europe were on their knees. And so, on 3rd April, 1948, the United States launched an economic recovery program unprecedented in its ambition. Over the next four years, the U.S. would extend a strong hand and lift these crippled nations out of the ruins of the world economy. It would transfer over $12 billion—around $128 billion in today's money—and remove barriers to trade, modernize industries, and increase prosperity. The GDPs of the Western European countries rose by up to 25 percent, and their vital industries underwent rapid renewal. This was the Marshall Plan. And it takes on fresh relevance today, as the world's...

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