Africa must speak against unfair global financial system – Ken Ofori-Atta

Ken Ofori-Atta has called on African countries to speak loud. The current global financial system is  unfair to Africans.

Mr Ofori-Atta has described the current financial system as not fit for future purpose. He sees that the situation requires all countries to stand up.

The global financial system is the worldwide framework of legal agreements and institutions. Formal and informal economic actors come together to facilitate international flows of financial capital for purposes of investment and trade financing.

There was a Memorandum of Understanding the Government of Ghana and African Development Bank Group (AfDB) . African Development Bank will host the annual meetings of AFDB group which will take place in Accra from the 24th to 28th May, 2021.

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He expressed his joy in the honour to hosting the event. He said “I would like to express great appreciation to the bank. For entrusting the hosting of the 56th Annual Meetings of AfDB and 47th Annual Meetings of ADF from 24th to 28th May 2021 in Accra”.

He added, “We promise to champion African excellence and deliver a befitting event. It is important that Africa leverages the forum to speak loud and clear. The current unfair structure of the global financial system not fit for purpose for the future.”

Professor Vincent Nmehielle, the Secretary General of the African Development Bank Group said that the bank is committed to helping African countries. He said the aim is to help all African countries to deal with the effect of coronavirus pandemic on economies.

“COVID has really provided Africa with the catalyst to think about the number of its policies from economic to health”. He said that compared with the systems in other countries, our social protection is inadequate. He said the bank is going to use this period to engage with member countries.

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