President Akufo-Addo speaks on ongoing global economic turmoil

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As the African Union Champion of Financial Institutions, President Akufo-Addo addressed at the Boma of Africa on the continuing financial turmoil at the invitation of the African Union and AfroChampions.

The meeting’s organizers were harshly warned by him to focus and concentrate on efforts to strengthen Africa’s influence over the global economic system.

He expressed alarm over the often-severe repercussions of global downturns seen by smaller economies, many of which are in Africa, although having little influence on their origins.

The international channels for resolving economic crises do not include smaller economies. Africa has to invest more money in its own financial crisis management strategies and move faster to establish a continental lender of last resort.

But even a whole continent cannot survive a full economic downturn on its own.Global cooperation will continue to be the cornerstone of any approach to dealing with such situations.

As a result, President Akufo-Addo urged Africa to unite behind a single voice and strategy in order to have an impact on the decisions made in continental fora concerning crisis resolution.

In that same spirit of collective action at continental level, Ghana has been a strong supporter of African Union regional solutions such as the common African Vaccine Passport (www.africacdc.org/trusted-vaccines & www.panabios.org) and the AfCFTA Digital Corridor (www.afcfta.app) and its ProPer subsidiary platform (www.properseals.org).

Source: Ghanatodayonline.com

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