By Matik Kueth
King News 06th September Juba – United Nations Secretary-General António Guterres has warned that Africa’s mounting debt crisis is a looming threat to societal stability across the continent. Speaking on Thursday at the China-Africa Cooperation meeting in Beijing, Guterres emphasized that many African nations are struggling under heavy debt burdens, leaving them unable to invest in sustainable development initiatives.
“Many have no access to effective debt relief, enjoy scarce resources, and clearly insufficient concessional funding to respond to the basic needs of their population and protect them from the ravages of a climate crisis they did nothing to create,” Guterres said.
He appealed for fundamental reforms to the antiquated, ineffectual, and inequitable international financial performance system.
According to Guterres, the reforms will assist in giving developing countries the financial resources they require to address issues, such as climate change.
He noted that China’s cooperation with African countries could propel progress in numerous crucial domains, such as energy, food security, and technology. China is completely dedicated to collaborating with African countries to safeguard the spirit of friendship and cooperation.
This spirit is characterized by true equality and friendship, mutual benefit and shared development, fairness and justice, transparency and inclusivity, and forward motion with the times.
China, a major player in Africa since the forum’s founding in 2000, is a country whose cutting-edge modern technology is admired by the continent’s nations.
Chinese firms have engaged substantially in mining for the resources their industry needs, whereas government development banks have made loans to create railways, roads, and other infrastructure.
Although China now leads sub-Saharan Africa in bilateral trade, the country exports far more goods to the region than it imports.African leaders are appealing to Beijing for assistance in growing their agricultural exports and industrializing their economies, partially in order to lessen their trade deficit.