The African Group reaffirms the centrality of the Addis Ababa Action Agenda (AAAA) as a guiding framework for financing sustainable development. However, the existing international financial architecture does not meet the financial needs of African countries, particularly in times of crises. To achieve the Sustainable Development Goals (SDGs), the global financing system must address systemic challenges such as high debt burdens, trade barriers and financial market volatility.
Rethinking Debt: Financing The Future Amid Crisis.
What is our perspective as The Youth Cafe? It is important for us to work on innovative solutions to the current debt challenge so that these solutions respond to diverse needs of borrowers and lenders. K.Y Amoako rightly puts it, “Do not just focus on debt. If Africa is to achieve, rekindle loss to covid in terms of meeting our SDGs goals in the decade ahead, we must transform our economies at a faster pace than we have been so far. It's about transformation. And to transform, african countries like countries everywhere, must borrow. But to ensure that this borrowing is manageable, it must be affordable to ensure we can repay our debts.”