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E-mail Xinhua, February 12, 2025
ADDIS ABABA, Feb. 12 (Xinhua) -- Africa advocates for a change in the global governance system to amplify the voice of the Global South, Ethiopian Foreign Minister Gedion Timothewos said Wednesday.
The foreign minister made the call at the opening session of the 46th Ordinary Session of the Executive Council of the African Union (AU) at the bloc's headquarters in Addis Ababa, the capital of Ethiopia.
"Africa must call for an international financial system that supports its growth and tackles its challenges effectively, and it should demand for access to climate financing and technology," the minister said.
Timothewos stressed that multilateralism is not just a choice but a necessity for Africa and the Global South, as most challenges require collaborative solutions.
He underscored the significance of African unity and solidarity, saying that the continent's future will depend on its collective action to address global challenges and seize emerging opportunities.
The minister said it is important to leverage continental organizations like the AU to advance shared aspirations, including the implementation of Agenda 2063, AU's 50-year continental development blueprint, and the African Continental Free Trade Area.
At the event, Claver Gatete, executive secretary of the United Nations Economic Commission for Africa, said the current global financial architecture is "outdated, inequitable and unjust."
"A just world requires governance reforms in international financial institutions to ensure that Africa has a stronger voice in shaping global economic policies," Gatete said.
The executive secretary also called for debt restructuring that allows African nations to invest in their people and development instead of paying exorbitant interest rates.
The AU executive council meeting, which comprises foreign ministers from AU members and runs from Wednesday to Thursday, is being held under the AU's theme for the year 2025: "Justice for Africans and People of African Descent Through Reparations." Enditem
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