Friday July 17, 2020 – President Uhuru Kenyatta has called for the cancellation of debts owed by African countries in the development of a joint European Union and Africa Covid-19 response strategy.
Speaking at State House, Nairobi, yesterday during a virtual conference of European and African leaders on the proposed establishment of the Africa-Mediterranean-Europe (AME) Foundation, Uhuru said that the cancellation of debts should be among the interventions taken in cushioning African countries during the pandemic.
Uhuru expressed his support for the establishment of the Foundation noting that the initiative will help inject new ideas needed to scale up collaboration between the three regions while addressing emerging global challenges.
He further said that the foundation should be structured to be a robust platform for promoting multilateralism and inclusivity.
“In this context of inclusivity, the Foundation should also recognize the critical role of the private sector, the academia and civil society,” the President added.
The virtual meeting was addressed by Presidents Macky Sall (Senegal), Issoufou Mahamadou (Niger), Mohamed Ould Ghazouni (Mauritania) and Roch Mach Kabore (Burkina Faso) who were in agreement that the institution will help address the changes happening on the African continent.
Uhuru had earlier on raised concern over the debt levels of developing countries during a virtual summit on June 3rd of the Organization of the African, Caribbean and Pacific States (OACPS).
Kenyatta identified the growing debt burden and existing economic sanctions among its members as challenges that are aggravating the negative effects of the Covid-19 pandemic.
Kenya’s credit rating has been significantly lowered by credit rating firms due to huge debts.
The Kenyan DAILY POST