out of $650bn to help International Monetary Fund member countries facing economic crises.
The G7 has promised much to Africa through endless so-called aid offerings. For decades, G7 leaders have pledged to allocate 0.7% of their respective countries to international aid to support Africa and other continents in need. reports that by 2021, G7 countries did not even reach half of that and collectively provided 0.32%. More concerning is that even if this “aid” arrives often, it is counteracted by African countries’ trade deficits and illicit financial flows.
To do this, the G7 must invest in a global financial and trade architecture that enables African countries to produce their own food and energy to meet their domestic needs, facilitate technological transfer to enable sustainable essential manufacturing and industrial activity and invest in public education, research, and development. This will support real, sustainable, productive jobs and livelihoods on the continent.
What can it leave behind? For starters, a positive resolution on special drawing rights assistance for Africa, interventions on illicit financial flows and encouragement of investments through effective, sustainable development partnerships.
Oh and Obama is no longer US president.
That's really strange considering Angela Merkel retired as German Chancellor many months ago. Perhaps your photo is out of date.
The B3W has failed . Another failed Biden project at the G7. Why does Biden think that the Partnership for Global Infrastructure Investment will ever work? He has failed to build the US infrastructure already
Africa must forget about G7 and start joining BRICS that's the future of Africa
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