Amidst uncertainties in global economics, the UNECA cautions against growing difficulties in financing. Calling for sustainable debt management strategies as well as international collaboration is a must because security and climate change can further destabilize Africa’s economy.
In a recent speech, Claver Gatete, UNECA’s Executive Secretary, mentioned that this continent is confronted with a plethora of challenges including financing, security and climate change.
“Africa’s sovereign debt has surpassed one trillion US dollars sparking concerns whether the continent has what it takes to repay such a huge amount,” said Gatete.
With respect to global economic uncertainties, UNECA warns about intensifying financing problems that necessitate sustainable debt management strategies along with international cooperation. Apart from these there are other threats like security issues and climate change which impinge on Africa’s economic health.
Gatete insisted on the importance of urgent collective action to tackle these issues so that there would be economic resilience and sustainable development throughout Africa.
