President Nana Addo Dankwa Akuffo- Addo has appealed to African heads of state to prioritize and concentrate on a collaborative initiative to increase Africa’s influence in the global economic system.
This, he said has become necessary due to the fear of the structural and recurrent flaws of the international economic order which he believes could rob Africans of their prize if efforts are not made to make an impact on its course.
According to him, Africa’s rise is dependent on how effectively it builds continental buffers and cushions.
He made this call in an address to Boma of Africa, in light of the recent global challenges including the coronavirus pandemic and the Ukraine-Russia war.
He believes that Africa needs to accelerate the realization of its envisaged institution for financial crisis resolution such as the Africa Monetary Fund.
President Akufo Addo also urged African nations to unite behind a single voice and strategy to impact the decisions made in the continental forum on crisis resolution.
“Continental unity and collective agency are the only paths to building influence to push successfully for the reform of the multilateral economic and financial systems that affect our ability to respond to crises that affect our rise as a continent,” he said.
In addition, he noted that there is the need for Africa to invest more in its own strategies for financial crisis management and also support smaller economies as they suffer most from global pandemics.
To him, the responsibility of Africa managing its crisis cannot be assigned to domestic actors alone adding that small economies cannot be left exposed to ‘these vagaries of the international system to their fate and insist that they suffer the consequences alone.”
Source: Dorcas Akpakudi/ATLFMNEWS
