By Francis Kobena Tandoh
Participants at the 9th Annual Ghana International Trade and Finance Conference (GITFIC) in the Ghanaian capital have called for reforms in the global financial architecture.
Among the key recommendations passed at the conference under the theme: “The 2nd Global Debt Initiative and the Inaugural GITFIC-AfCFTA Tertiary Students,” participants observed that the reforms will harmonize creditors’ interests with the needs of debtors.
The call comes on the back of what the students describe as unfairness in the global financial system, which has worsened the woes of the developing world.
“There is a need for reform of the global financial architecture. Develop equitable systems that harmonize creditor interests with the needs of debtors. It is crucial to engage with UN-led reforms to amplify Africa’s voice in shaping the evolving global financial landscape,” read the recommendation.
The participants also called for debt relief and cancellation, climate-conscious financing, as well as the need to forge public-private partnerships to facilitate capital mobilization in key sectors such as agriculture, education, and technology to drive development.
The group further recommended that the introduction of youth empowerment initiatives through the Africa Continental Free Trade Area (AfCFTA) curriculum that integrates AfCFTA studies into university programs with input from industry stakeholders, alongside practical fieldwork components.
The 9th Annual Ghana International Trade and Finance Conference brought together policymakers, academics, students, and international stakeholders to address critical issues of debt within Africa and the Global South, focusing on sustainable development and the strategic role of tertiary education in facilitating intra-African trade within the AfCFTA.
Among the topics discussed during the conference are reforming the international financial system, debt transparency and sustainability, youth and the AfCFTA curriculum, the African Development Bank’s strategy on debt management, and the United Nations’ advocacy for global debt reform.
The conference resolved to advance AfCFTA-centric education through two formal initiatives, including implement the AfCFTA curriculum at the senior high school level to enhance early exposure and understanding among students, as well as institutionalize AfCFTA studies as a standalone short course, complementing integration into higher education curricula. Enditem
Source: Ghana Eye Report
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