African leaders must take exceptional measures to address economic crisis-Macky
DAKAR, SENEGAL: Senegalese President and Chairman of the African Union, Macky Sally has called on African leaders to take extraordinary measures to address the dire economic crisis facing African countries.
The AU Chairman was speaking during the 8th edition of the Dakar International Forum on Peace and Security in Africa on Monday, in Dakar, Senegal.
The two-day annual forum was attended by nearly 1,000 policymakers from different parts of the continent including heads of African states, government ministers, leaders of international organizations like the African Union, European Union, and United Nations.
Experts on peace and security also attended the conference. Held under the theme, “Africa in the face of exogenous shock; the challenges of stability and sovereignty”, the forum focused on the security challenges facing the continent and redefining the role international partners play in promoting stability in Africa.
“Threats to peace and stability in the African continent lie in the profound economic crisis that is currently shaking the world.” President Sally said,
“Millions of people can no longer afford the cost of living; and others fall into extreme poverty, with no hope of a better tomorrow.”
These exceptional circumstances call for exceptional measures. Thus, in order to support households and businesses, many developed countries have rightly ignored the previous taboo on subsidy limits, debt ratios, and budget deficit thresholds, Sally added.
He acknowledged that economies that are structurally weak and without financial shock-absorbing mechanisms have remained with insufficient internal efforts, a situation that has deteriorated with serious threats, now weighing on agriculture and food security, due to the shortage of fertilizer and the considerable increase in prices.
Following the issuance of Special Drawing Rights (SDRs) in August 2021, Africa continues to advocate for the partial reallocation of SDRs from developed countries to eligible developing countries, and the implementation of the G20 Debt Service Suspension Initiative (ISSD).
The SDRs are loans in the form of cash that countries with the rights voluntarily allocate to countries that need it. The issue is however now said to be at an impasse
Colonel Babacan Diouf a researcher of geopolitics, peace, and security at the University of Dakar stated that Africa should learn to make its own decisions based on its interests.
“It is time for Africa to know where its interest is, define it clearly and know each of those powers will come to Africa and corporate based on our interests,” Diouf said.
“We need to be united in one way or another when it comes to our security, and when it comes to our development, we cannot develop if we are not industrialized, and one of (the) big issues is that we have been pushed to being mere consumers, so we need to sit and think about what we want. We need to deconstruct the relationship we have with the western world or other worlds.” Diouf acknowledged.
South Sudan, the young nation that got its independence in 2011, has been facing challenges of instability as there are conflicts still ongoing in different parts of the country.
The researcher appealed to the leaders of the country to work together to develop South Sudan.
He told the officials that having a united African continent starts with having harmony within our own countries.
“South Sudan has a lot of riches, but they have a big problem, they don’t agree among themselves within the country. Our political leaders should know that they have roles to play in their countries, and also within the different organizations that exist within Africa. The leaders should consider democracy,” he urged.
“We don’t govern people because they are stupid, we govern them because they gave us their responsibility to carry, so the different groups especially the two have to get back together and realize that what unites them is bigger than what separates them.”
Somalian Ambassador to Senegal, Mohammed Hussein Abukar also reiterated the need for unity in Africa as a continent.
He said African people should learn from the solidarity the Europeans are giving Ukraine.
“In Africa, we don’t corporate, Europeans and Westerners corporate; look at the support they are giving Ukraine. Africa must come together and help one another. We should feel ashamed for seeking help from other people yet this continent is full of resources, the future is in Africa but unfortunately, our people do not realize that, but we must come together.”
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