The United Nations is making $250 million available to developing African countries, the largest UN aid package ever. With this, UN Secretary-General Antonio Guterres wants to contribute to a solution to the ‘forgotten crises’ on the continent, such as famine, violence and the consequences of climate change.
Guterres made the announcement during the annual African Union summit in the Ethiopian capital Addis Ababa, which brought together 55 African countries.
Armed conflicts
Many African countries are facing food and security crises. For example, there are armed conflicts in various countries. Many residents have also fled their homes due to drought or floods. Both armed conflicts and climate change lead to famine. Somalia, for example, is on the verge of famine after five failed rainy seasons. As a result, there is a severe food shortage affecting hundreds of thousands of people.
The corona crisis has left many developing countries deeply in debt. This was because they had to meet payment obligations to rich countries, while the countries also had to fight the pandemic. According to the International Monetary Fund (IMF), sub-Saharan debt has reached its highest level in more than two decades.
Criticism
Guterres criticizes payment obligations. “The global financial system consistently rejects debt relief and soft financing while charging exorbitant interest rates,” Guterres said. “African countries cannot climb the ladder of development with one hand tied behind their back.”
Ethiopian Prime Minister Abiy Ahmed echoed Guterres’ words. ‘Almost all of us want to get our economies back on the path of growth. But that will not succeed without sufficient restructuring to make our external debt sustainable.’
Source: BNR
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