Addis Ababa, October 21, 2024 (FBC) – The UN Secretary General António Guterres, at the 8th AU-UN Annual Conference, emphasized the need for a reformed global financial architecture that addresses the developmental needs of Africa.
On the conference, the two organs reviewed those activities to strengthen African Union-United Nations cooperation in areas such as peace, security, human rights, and sustainable development.
Guterres highlighted the longstanding inequalities in the global financial system, pointing out that it has historically disadvantaged African countries.
“For the first time, there is a recognition that we live in an economic and financial system that is ineffective and unfair, especially toward the African continent,” said Guterres.
He emphasized that the financial system, deeply rooted in colonial legacies, was designed to benefit the former colonial powers while leaving African countries with distorted economies.
The Secretary General also noted the growing challenges African nations face, such as the impact of the COVID-19 pandemic, inflation exacerbated by the war in Ukraine, and the overwhelming debt burdens.
Despite its rich resources, Guterres stressed that Africa remains economically constrained and lacks access to adequate concessional finance, which hampers its ability to invest in sustainable development and climate adaptation.
Stressing the need for reforming the international financial system, Guterres called for “more voice and power for developing countries, particularly African nations” within global financial institutions.
He expressed optimism that the recent Summit of the Future has laid the groundwork for mobilizing resources, including the Sustainable Development Goals (SDG) stimulus, to reduce debt and create opportunities for sustainable growth.
On his parat, AU Chairperson, Moussa Faki Mahamat echoed these concerns, highlighting the significant progress made in AU-UN cooperation under Guterres’ leadership.
Mahamat praised the UN’s commitment to bringing Africa to the forefront of global decision-making.
However, he stressed that Africa still struggles economically and called for continued reform efforts in both the UN Security Council and global financial institutions.
Another key theme of the conference was Africa’s inclusion in the global conversation on artificial intelligence (AI).
In this regard, Guterres underscored the importance of ensuring that AI becomes a tool for development rather than a source of inequality.
“We are committed to having a strong African presence in the political dialogue on artificial intelligence,” he said, adding that the continent, home to a young population and burgeoning young scientists, should be at the forefront of AI innovation.
The Secretary General also announced the establishment of a joint working group between the Economic Commission for Africa, the AU, and the UN to help bridge the digital divide.
According to Guterres, it is to ensure that AI serves as a vehicle for development, enabling African countries to “catch up” and accelerate their economic progress.
Speaking on African representation in the United Nations Security Council, Guterres reiterated the growing international consensus on the need for reform, emphasizing that Africa must have a permanent seat at the decision-making table.
“There is now a consensus among member states that the Security Council must be reformed, and a key aspect of that reform is to have two African members as permanent members,” he stated.
He underscored that this reform is crucial for ensuring that African voices are heard in global governance, particularly on issues of peace and security, where the continent often bears the brunt of conflicts, as called by local newswire service ENA.
It is only fair for the continent to have a permanent say in shaping global security policies, he stated.
The 8th AU-UN Annual Conference reaffirmed the strong institutionalized partnership between the African Union and the United Nations. Both leaders expressed their commitment to maintaining dynamic and forward-looking cooperation.