7 March 2024
Addis Ababa, Ethiopia – The African Union (AU) is set to participate as a permanent member of the G20 for the first time this year, and African nations are prepared to leverage this historic opportunity to address key concerns on the global stage.
High on the priority list for Africa is advocating for increased efforts from G20 members to address the debt crisis plaguing many low- and middle-income countries.
The AU will call for a time-bound review of the existing G20 Common Framework for Debt Treatment, aiming to the review will explore ways to ensure negotiations under the framework are conducted transparently and within reasonable timelines, avoiding situations like Zambia’s, which took three years to reach a breakthrough, the AU seeks to enhance the framework’s ability to proactively address liquidity challenges before they escalate into full-blown debt crises, and the review will explore avenues to leverage debt treatment under the G20+ to involve private creditors and international financial institutions in finding solution
While addressing debt remains crucial, Africa’s G20 priorities extend further, the AU will voice concerns about the ongoing food security crisis, urging G20 members to collaborate on sustainable solutions to ensure food availability and affordability for all. African nations will advocate for equitable trade practices that promote economic development and poverty reduction across the continent.
The AU’s participation in the G20 presents a significant opportunity for Africa to shape the global agenda and address critical challenges facing its member states.
By working collaboratively with other G20 members, the AU can strive for a more just and equitable future for Africa and the world
