Mahama calls for common African position ahead of 2025 G20 Summit

President John Mahama has joined other African leaders. They are calling for a united African stance before the 2025 G20 Summit. Their goal is to demand fair and transparent debt restructuring frameworks.

The G20 is a forum of 19 major economies and the European Union. It addresses global economic and financial issues. This year's G20 Summit will take place on November 22-23 in Johannesburg, South Africa.

In his speech at the African Union Conference on Debt, President Mahama emphasized the need for standardized debt transparency benchmarks across Africa. He also called for integrating climate adaptation and sustainable development goals into national debt strategies.

The three-day conference is held in Lomé, Togo. It is organized by the African Union Commission’s Department for Economic Development, Tourism, Trade, Industry, and Minerals (ETTIM). The theme is “Africa’s Public Debt Management Agenda: Restoring and Safeguarding Debt Sustainability.”

The conference will bring together AU Member States, policymakers, and financial experts. Key stakeholders include representatives from Ministries of Finance and African Central Banks.

President Mahama stressed the importance of fully operationalizing the African Monetary Institute. He also highlighted the need for the Pan-African Payment and Settlement System (PAPS) to reduce foreign exchange demands in regional trade.

He urged participants to redefine Africa’s debt narrative. “Let us leave here with a renewed vision,” he said. He envisions a future where debt means capacity instead of crisis.

“Ghana stands ready to support our fellow African nations,” President Mahama stated. He encouraged unity in vision and action to overcome debt challenges.

“Africa can achieve prosperity for generations to come,” he concluded.