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UN secretary-general urges overhaul of international financial architecture, presses for SDG financing and tech inclusion for Africa
Summary
At a press event in Addis Ababa, the United Nations secretary-general said the international financial system needs reform to give developing countries more voice and access to resources, urged more concessional finance and debt-relief mechanisms, and called for Africa to be included in technology advances such as artificial intelligence.
At a press conference in Addis Ababa, the United Nations secretary-general said the international financial architecture must be reformed so developing countries — particularly in Africa — have greater voice, representation and access to resources.
"We need more concessional funding," the secretary-general said, adding that multilateral development banks should be "bigger, bolder, more capitalized" and better able to attract private investment for developing countries. He said reforms should include an "effective mechanism of debt relief" for heavily…
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