https://en.sputniknews.africa/20250213/advocating-for-equitable-growth-ethiopias-fm-calls-for-financial-reform-and-african-unity-1070626557.html
Advocating for Equitable Growth: Ethiopia's FM Calls for Financial Reform and African Unity
Advocating for Equitable Growth: Ethiopia's FM Calls for Financial Reform and African Unity
Sputnik Africa
The AU Executive Council meeting, which includes the foreign ministers of AU member states, is held from February 12 to 13 in Ethiopia's capital, Addis Ababa... 13.02.2025, Sputnik Africa
2025-02-13T11:47+0100
2025-02-13T11:47+0100
2025-02-13T17:32+0100
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Africa is calling for a change in the global governance system, which includes the reform of the United Nations Security Council, to strengthen the voice of the global South, Ethiopian Foreign Minister Gedion Timotewos said.Timothewos emphasized that multilateralism is not merely a choice but a necessity for Africa and the Global South because most challenges require joint solutions. He stressed the importance of African unity and solidarity, stating that the continent's future depends on collective actions to tackle global issues.The minister added that it is crucial to utilize continental organizations, such as the AU, to advance common aspirations, including the AU's continental development plan and the African Continental Free Trade Area.UN Economic Commission for Africa's Executive Secretary, Claver Gatete, also stated that the current global financial architecture is outdated, unfair, and unequal. He added that for there to be a fair world, it is necessary to reform the governance of international financial institutions to ensure that Africa has a stronger voice in shaping global economic policy.Gatete also urged for debt restructuring that would allow African countries to invest in development instead of paying exorbitant interest rates.
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africa, ethiopia, addis ababa, african union (au), un security council reform, development, african continental free trade area (afcfta), east africa, debt restructuring, economy, finance
Advocating for Equitable Growth: Ethiopia's FM Calls for Financial Reform and African Unity
11:47 13.02.2025 (Updated: 17:32 13.02.2025) Christina Glazkova
Writer / Editor
The AU Executive Council meeting, which includes the foreign ministers of AU member states, is held from February 12 to 13 in Ethiopia's capital, Addis Ababa, under the theme "Justice for Africans and People of African Descent through Reparations."
Africa is calling for a change in the global governance system, which includes the reform of the United Nations Security Council, to strengthen the voice of the global South, Ethiopian Foreign Minister Gedion Timotewos
said."We [Africa] also call for an international financial system that supports Africa's growth and enables the continent to tackle its challenges effectively. We demand access to climate financing and technology," he said during the opening of the 46th session of the Executive Council of the African Union (AU), which is taking place as part of the 38th AU Summit.
Timothewos emphasized that
multilateralism is not merely a choice but a necessity for Africa and the Global South because most challenges require joint solutions. He stressed the importance of African unity and solidarity, stating that the continent's future depends on collective actions to tackle global issues.
The minister added that it is crucial to utilize continental organizations, such as the AU, to advance common aspirations, including the AU's continental development plan and the African Continental Free Trade Area.
UN Economic Commission for Africa's Executive Secretary, Claver Gatete, also
stated that the current global financial architecture is outdated, unfair, and unequal. He added that for there to be a fair world, it is necessary to reform the governance of international financial institutions to ensure that Africa has a stronger voice in shaping global economic policy.
Gatete also urged for
debt restructuring that would allow African countries to invest in development instead of paying exorbitant interest rates.
