UN chief urges int'l community to stand with Africa

UN Secretary-General Antonio Guterres on Thursday urged the international community to stand with Africa, calling for the continent to be adequately represented in the international financial system.

Africa's dynamism is unstoppable and its potential is breathtaking, but historic and economic injustices currently hamper its progress, Guterres said in a message to mark Africa Day, observed annually on May 25 to celebrate the achievements of the Organization of African Unity, the predecessor of the African Union, from its creation on May 25, 1963.

"We mark Africa Day at a time when cooperation and solidarity to advance the continent's future is more needed than ever," he said.

African countries are underrepresented in global governance institutions, from the UN Security Council to the Bretton Woods System, and denied the debt relief and concessional funding they need, Guterres said.

"The continent should be represented at the highest level of the international financial system," said the UN chief.

Multilateral development banks should transform their business models and leverage funds to attract massive private finance at reasonable cost to developing countries. Developed countries should provide the support they have promised for action on climate change, and go further, he added.

"Africa deserves peace, justice and international solidarity," Guterres said. "With international cooperation and solidarity, this can be Africa's century."