It’s time for the G7 to deliver on Africa

  • 📰 mailandguardian
  • ⏱ Reading Time:
  • 58 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 27%
  • Publisher: 92%

South Africa Headlines News

South Africa Latest News,South Africa Headlines

It’s time for the G7 to deliver on Africa: South Africa and Senegal, as AU chair, are attending the important summit of the leaders of the big industrialised nations

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

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 Perhaps your photo is out of date.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

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in ZA

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

The most in-demand job skills in South Africa right nowJobs portal CareerJunction has published its Employment Insights for May 2022, showing which job skills are most in-demand in South Africa right now.
Source: BusinessTechSA - 🏆 24. / 61 Read more »

Big problem with blacklisting stolen smartphones in South AfricaCriminals can still profit from dual-SIM smartphones that get blacklisted.
Source: mybroadband - 🏆 11. / 67 Read more »

10 most-listed used car variants in South Africa with price and mileageThe rising cost of new cars and the related stock delays has South Africans looking to the used car market to find their next vehicle, and in turn the demand is driving up the average price.
Source: BusinessTechSA - 🏆 24. / 61 Read more »

South Africa: Zuma Slams Corruption Report as 'Irrational'South Africa's former president Jacob Zuma plans to challenge the findings of a judicial report into rampant corruption during his nine-year tenure, his spokesperson said Saturday.
Source: allafrica - 🏆 1. / 99 Read more »

Uber Eats promises more “unconventional” options in South AfricaUber Eats promises more 'unconventional' options in South Africa
Source: mybroadband - 🏆 11. / 67 Read more »

5 important things happening in South Africa todayThe ongoing wildcat strike at Eskom is hammering the economy; South Africa faces a tax revolt as more people refuse to pay; Half of South Africa’s sewage works are failing; and Japan sees South Africa as a big Hydrogen player in the next 10 years.
Source: BusinessTechSA - 🏆 24. / 61 Read more »