African Central Bank governors and experts call for a reformed global financial system
December 2, 2024African Central Bank governors, economists and finance experts have reiterated the need for a reformed global financial infrastructure that favours Africa and African countries. Speaking at the 61st African Economic Research Consortium biannual conference in Nairobi delegates decried the massive allocation of the special drawing rights to countries with stable fiscal frameworks that barely need the support as African countries whose exposures are high yet lower STRs. The delegates also called for a review of the interest rates but which the facilities are advanced.