System Established Since Bretton Woods is 'Unfair' to Africa, Says Algerian Economist
21:38 16.09.2025 (Updated: 21:44 16.09.2025)
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System Established Since Bretton Woods is 'Unfair' to Africa, Says Algerian Economist
The 4th Intra-African Trade Fair in Algiers sent a strong message for the continent's economic development, Abderrahmane Hadef, an expert in economic diplomacy, told Sputnik Africa.
Discussions focused on alternatives to the Bretton Woods institutions:
"Africa faces constraints when it comes to accessing sources of financing. The issue of debt hinders its pursuit of economic sovereignty. For some countries, debt servicing exceeds what they allocate to health or education."
According to him, the continent needs payment systems like the Pan-African Payment and Settlement System to break free from the dollar's hold:
"There is a desire to create a pan-African payment system. Global systems have become tools in the hands of major powers. What happened with SWIFT is a prime example."
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