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UNECA Urges Africa to Move to Bold & Inclusive Solutions Amid Alarming 64.3% Debt-to-GDP Ratio
UNECA Urges Africa to Move to Bold & Inclusive Solutions Amid Alarming 64.3% Debt-to-GDP Ratio
Sputnik Africa
UNECA Urges Africa to Move Beyond Aid to Bold & Inclusive Solutions Amid Alarming 64.3% Debt-to-GDP Ratio 10.04.2025, Sputnik Africa
2025-04-10T16:44+0200
2025-04-10T16:44+0200
2025-04-11T14:13+0200
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UNECA Urges Africa to Move Beyond Aid to Bold & Inclusive Solutions Amid Alarming 64.3% Debt-to-GDP RatioAfrica faces significant challenges in achieving the Sustainable Development Goals (SDGs) by 2030 and AU Agenda 2063, including a high debt burden and slow economic growth, UNECA Executive Secretary Claver Gatete said.Four pillars for achieving SDGs and AU Agenda 2063 outlined by Gatete:
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UNECA Urges Africa to Move to Bold & Inclusive Solutions Amid Alarming 64.3% Debt-to-GDP Ratio
16:44 10.04.2025 (Updated: 14:13 11.04.2025) UNECA Urges Africa to Move Beyond Aid to Bold & Inclusive Solutions Amid Alarming 64.3% Debt-to-GDP Ratio
Africa faces significant challenges in achieving the Sustainable Development Goals (SDGs) by 2030 and AU Agenda 2063, including a high debt burden and slow economic growth, UNECA Executive Secretary Claver Gatete said.
"With just five years to 2030, the data is sobering. Out of 144 measurable SDG targets, only 10 are on track, while 106 are progressing too slowly, with 28 regressing," he noted at the Africa Regional Forum on Sustainable Development held in Kampala, Uganda.
Four pillars for achieving SDGs and AU Agenda 2063 outlined by Gatete:
scale up domestic resource mobilization by curbing illicit financial flows, leveraging sovereign wealth funds, and promoting remittance-backed bonds;
de-risk economies and develop capital markets to attract private investment, particularly in agriculture and renewable energy;
expand access to affordable finance, especially for women and youth, through microfinance and digital finance;
leverage the AfCFTA to boost intra-African trade, industrialization, and job creation.
