Ethiopian PM urges international financial reform for developing countries

ADDIS ABABA, Feb. 17 (Xinhua) -- Ethiopian Prime Minister Abiy Ahmed on Saturday called for reforms to the international financial system to enhance access to finance for developing countries. The international financial architecture treats the world unequally, resulting in inadequate and expensive access to finance for developing countries, he said at the opening of the 37th Ordinary Session of the African Union (AU) Assembly of the Heads of State and Government at the AU headquarters in Addis Ababa, the capital of Ethiopia. Africa's population is expected to reach nearly 2.5 billion by 2050, boasting the youngest population globally, which positions the continent for significant economic growth, he said. Africa's growth should be of global importance. Africa needs to develop, build infrastructure, ensure food security, strengthen health and education systems, and create jobs. All of these require long-term financing, the prime minister said. Ahmed urged major international financial agencies to consider the realities faced by today's world, particularly for middle- and low-income countries.

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Ethiopian PM urges international financial reform for developing countries