Browsing: Paris summit

France will host, in Paris, on June 22 and 23, 2023, the Summit for a new global financing pact. The Summit seeks to rethink the contract between the countries in the Global North and the Global South. The organisers aim to formulate a new pact to address the global economic crisis and climate change.…

The United Nations (UN) has called for major reforms for two institutions considered key players in the new world order. Antonio Guterres, the UN secretary-general, is pushing for major changes in the IMF and the World Bank.

According to Guterres, the International Monetary Fund has profited the rich nations at the expense of the developing ones. The UN secretary-general describes the response by IMF and the World Bank towards the COVID-19 pandemic as a “glaring failure” that left most developing nations significantly indebted.…

The South Africa President Cyril Ramaphosa is actively pushing for African countries to receive substantial funding from the World Bank and International Monetary Fund (IMF) to aid recovery after the Covid-19 pandemic affected most Africa Countries economies.

In his weekly, open letter to the public on Monday Ramaphosa said that this should include a greater allocation of the IMF’s ‘special drawing rights’.

Special drawing rights (SDR) are an international reserve asset that can be converted into five currencies: the dollar, euro, yen, British pound and yuan.

he said $162.5bn should be made available instead of the $33bn which has been proposed from the “special drawing rights” which will be released to increase reserves of African countries.

Ramaphosa’s sentiments comes days after the Paris Summit that drew together African leaders and European leaders to discuss health and finances to aid in economic recovery ended with France President promising to Vaccinate 40% …

Africa Nations bagged goodies from the just concluded Paris summit held in France on May 18. The Summit brought together African leaders and global financial institutions, where a new deal was launched for Africa and by Africa, in host of the French President Emmanuel Macron.

For several decades in Africa, debates have taken place around economic relations between France and its former colonies in the continent.

But from Economic and political statements of Commentators of whether few element of exploitation exist or not in France’s way of Trading In Africa it is not a matter of Concern from French President Emmanuel Macron who is in mood to continue trading and offering Goodies to Africa, even though some of the unfair and unequal ethics are left unsaid. his country continues to control the trade and currency of these former colonies. The maintenance of economic domination allows the prolongation of political domination.…

Today May 18 2021, African heads of state, European leaders, and representatives of international institutions will gather in Paris for a summit on financing African economies.

The President of the Republic of France Emmanuel Macron hopes that new and ambitious solutions will be found so that Africa can face up to this unprecedented shock and return to growth, like other continents that have been able to implement massive recovery plans.

All the signatories of the April 15, 2020 letter have been invited to the Summit, as well as several other African heads of state, members of the G7 and G20, and leaders of international organizations.

Well someone would ask, Is it not the right time that African nations believes in themselves and drums up a campaign of mobilizing its national resources and using them to attract additional foreign capital? This could be the only way of ensuring our economies’ financial …