The Chair of the African Union Said During the China-Africa Summit that Debt Reduction is a “Urgent Imperative” for Africa
On Thursday, the leader of the African Union Commission urged greater variety in the investment destinations and stated that debt relief was a “urgent imperative” for many African states.
Moussa Faki Mahamat stated during the opening remarks of the China-Africa Summit in Beijing, “Debt relief is an urgent imperative to give debtor countries’ economies a vital economic breathing space.” This is true for many African states.
Numerous African officials have gathered in Beijing for a conference that is intended to demonstrate China’s influence on the continent and its aspiration to become a crucial ally in resisting the U.S.-led global system.
Chinese President Xi Jinping suggested on Thursday to the leaders gathered that all diplomatic connections between China and Africa be upgraded to a “strategic” level.
In order to further open its market and deepen cooperation in industry, agriculture, infrastructure, and other areas, he proposed ten action plans. One of these plans called for the removal of tariffs on goods from the majority of the world’s poorest nations, including 33 in Africa, as well as the provision of various financial support totaling RMB360 billion yuan (50.7 billion US dollars).
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