Source: Citi Newsroom
President John Dramani Mahama has urged the United Kingdom to use its 2027 leadership of the G20 to help address Africa’s debt challenges.
The G20 is a group of major economies that meet to discuss global financial and economic issues. It is expected that the UK will take over next year’s presidency.
Speaking at a meeting on Friday, October 23, with the cross-party UK Parliamentary Group in London, the President said the high cost of repaying loans is limiting African countries’ ability to invest in schools, hospitals, roads and job creation.
He therefore called for international cooperation to help African countries manage their debts, access more affordable financing and reform the global financial system to better support developing economies.