{"id":52991,"date":"2025-02-14T09:54:24","date_gmt":"2025-02-14T09:54:24","guid":{"rendered":"https:\/\/new.igihe.com\/amb-gatete-urges-reform-of-global-financial-system-to-boost-africa-s-growth\/"},"modified":"2025-02-15T18:54:32","modified_gmt":"2025-02-15T18:54:32","slug":"amb-gatete-urges-reform-of-global-financial-system-to-boost-africa-s-growth","status":"publish","type":"post","link":"https:\/\/new.igihe.com\/english\/amb-gatete-urges-reform-of-global-financial-system-to-boost-africa-s-growth\/","title":{"rendered":"Amb. Gatete urges reform of global financial system to boost Africa\u2019s growth"},"content":{"rendered":"<p>Speaking at the 46th Ordinary Session of the African Union\u2019s Executive Council in Addis Ababa, Gatete emphasized that the current global governance structures have hindered Africa\u2019s economic progress. <\/p>\n<p>He urged for a reformed financial system where Africa has a stronger voice in shaping policies that impact its development.<\/p>\n<p>Gatete also criticized Africa\u2019s credit ratings, which are largely determined by external agencies that often apply unfair assessments. <\/p>\n<p>With only Botswana and Mauritius holding investment-grade ratings, he advocated for the establishment of an African-led credit rating agency to provide more accurate and fair evaluations of the continent\u2019s economies.<\/p>\n<p>Highlighting the African Continental Free Trade Area (AfCFTA) as a transformative opportunity, Gatete stressed the need for investment in infrastructure and manufacturing to reduce Africa\u2019s reliance on external markets. <\/p>\n<p>He also called for the development of regional value chains to ensure that African resources are processed locally, creating jobs and driving industrialization.<\/p>\n<figure class=\"spip-document spip-document-81634\"><img decoding=\"async\" src=\"https:\/\/en-images.igihe.com\/jpg\/arton136142-2.jpg\" alt=\"The Executive Secretary of the United Nations Economic Commission for Africa, Amb. Claver Gatete, has called for a major overhaul of the global financial system. \" \/><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>The Executive Secretary of the United Nations Economic Commission for Africa (UNECA), Claver Gatete, has called for a change to global economic policies, describing the existing international financial architecture as &#8216;outdated, inequitable and unjust&#8217;.<\/p>\n","protected":false},"author":62,"featured_media":2000081635,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[75],"byline":[170],"hashtag":[],"class_list":["post-52991","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-homenews","byline-igihe"],"bylines":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"contributors":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"featured_image":{"id":2000081635,"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton136142-2.jpg","alt":"","caption":"","mime_type":"image\/jpeg","width":0,"height":0,"sizes":{"thumbnail":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton136142-2.jpg","width":1,"height":1},"medium":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton136142-2.jpg","width":1,"height":1},"medium_large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton136142-2.jpg","width":1,"height":1},"large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton136142-2.jpg","width":1,"height":1},"full":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton136142-2.jpg","width":0,"height":0}}},"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/52991","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/62"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=52991"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/52991\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media\/2000081635"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=52991"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=52991"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=52991"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=52991"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=52991"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}