President John Dramani Mahama has called on the United Kingdom to use its 2027 presidency of the G20 to help address Africa’s growing debt challenges and push for reforms to the global financial system.
He said the high cost of debt repayment was limiting African countries’ ability to invest in critical sectors such as education, healthcare, road infrastructure and job creation.
Speaking at a meeting with the cross-party UK Parliamentary Group in London on Friday, October 23, President Mahama called for stronger international cooperation to help African countries manage their debt obligations and secure more affordable financing.
He urged the UK to make Africa’s debt challenges a priority during its leadership of the G20, a forum of major economies that discusses global financial and economic issues.
President Mahama’s appeal comes amid concerns over the pressure debt servicing places on public finances across the continent, reducing the resources available for development priorities.
He called for reforms that would make the global financial system more responsive to the needs of developing economies and improve their access to financing for sustainable development.