Africa presses for reform of 'unjust' global financial system

Such calls have been mounting as African countries battle sometimes crippling levels of debt to fund their development as well as frequently unstable exchange rates.

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President of Rwanda Paul Kagame (L), speaks at a panel discussion next to President of Kenya William Ruto (R), during the African Development Bank (AFDB) annual meeting at the Kenyatta International Convention Centre (KICC) in Nairobi on May 29, 2024. (AFP)
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Nairobi, Kenya | AFP

There is an urgent need for reforms to the "unjust" global financial system, which penalises African nations with high borrowing rates, leaders said