AU’s G20 Membership Signals Redesign of Global Trade, Finance, Investment Architecture
Sep 18, 2023 ·
28m 4s
Download and listen anywhere
Download your favorite episodes and enjoy them, wherever you are! Sign up or log in now to access offline listening.
Description
The Group Of The World’s 20 Leading Economies has admitted the African Union (AU) as a permanent member, a development termed by many as a “later than never” acknowledgement of...
show more
The Group Of The World’s 20 Leading Economies has admitted the African Union (AU) as a permanent member, a development termed by many as a “later than never” acknowledgement of Africa’s relevance on the global stage.
Until now, South Africa was the bloc’s only G20 member and the AU had advocated for full membership for seven years in its quest to gain meaningful roles among the global bodies and also accord the 55 member states access to reforms in the global financial system such as the World Bank which had hitherto played a passive role in cushioning Africa’s debt profile.
The AU’s G20 membership which was granted following a concession at the 18th G20 heads of state and government summit in New Delhi, India, is expected to see Africa get investment and political interest from a new generation of global powers beyond the U.S. and the continent’s former European colonists.
show less
Until now, South Africa was the bloc’s only G20 member and the AU had advocated for full membership for seven years in its quest to gain meaningful roles among the global bodies and also accord the 55 member states access to reforms in the global financial system such as the World Bank which had hitherto played a passive role in cushioning Africa’s debt profile.
The AU’s G20 membership which was granted following a concession at the 18th G20 heads of state and government summit in New Delhi, India, is expected to see Africa get investment and political interest from a new generation of global powers beyond the U.S. and the continent’s former European colonists.
Information
Author | Africa Business Radio |
Website | - |
Tags |
Copyright 2024 - Spreaker Inc. an iHeartMedia Company