Information Minister, Kojo Oppong Nkrumah has called on multilateral institutions to step in and help resolve the impact of the recent global crises on Africa.
According to him, many African countries are struggling with a debt burden and harsh economic conditions occasioned by the COVID-19 pandemic and the geopolitical tension between Russia and Ukraine, hence, need the help of international organizations like the United Nations to stabilize their economies.
The Minister made the call while speaking at the Raisina Dialogue in New Delhi, India on Saturday, March 4, 2023.
“There's been a lot of talk about the impact of some of these global developments like the COVID-19 pandemic and the Russia-Ukraine war on Africa. Many of our economies are fragile as is our democracies. In Ghana for example, about 30 years of uninterrupted democracy and we're working to build a more resilient state following from there.
“But what these crises have done to Africa in particular is that it has escalated the cost of living and has made economic conditions very difficult for many of our people. A good number of African economies are having to struggle with a debt burden because of the challenges that economies went through in recent years and our expectation is that the global multilateral platforms would come in handy in the resolution efforts,” he said.
Mr. Oppong Nkrumah said in line with this, there is a need for world leaders to have a dialogue on how to fine-tune global economic institutions to better respond to the needs of developing economies, and to ensure that economic development is inclusive and sustainable for all.
He said this is one of the surest ways multilateral institutions can better respond to the contemporary challenges that the African countries are going through.
The Raisina Dialogue is a multilateral conference held annually in New Delhi, India. It brings together leaders from around the world to discuss and debate issues of global significance. This year's conference, which was held from March 2 to 4, focused on the theme: "Navigating the New Normal: Multi-Literalism in a Post-COVID World".
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