{"id":49619,"date":"2023-07-18T12:37:36","date_gmt":"2023-07-18T12:37:36","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/nandi-ndaitwah-calls-for-urgent-reform-of-unfair-global-financial-systems"},"modified":"2023-07-18T12:48:49","modified_gmt":"2023-07-18T12:48:49","slug":"nandi-ndaitwah-calls-for-urgent-reform-of-unfair-global-financial-systems","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/nandi-ndaitwah-calls-for-urgent-reform-of-unfair-global-financial-systems","title":{"rendered":"Nandi-Ndaitwah calls for urgent reform of \u2018unfair\u2019 global financial systems"},"content":{"rendered":"

Paheja Siririka
\n<\/b><\/p>\n

Africa-Press – Namibia. <\/strong><\/span>International relations minister Netumbo Nandi-Ndaitwah says while the African continent has an abundance of resources, it has little to no control over global financial systems or international trade rules.<\/p>\n

She lamented the negative perception towards Africa, a continent viewed as a mere supplier of raw materials and which is incapable of value addition to its own resources.<\/p>\n

\u201cThere is a compelling need to reform the global economic trading and financial system to level the playing field. A fairer and more resilient multilateral trading system must be open, rules-based, transparent and non-discriminatory,\u201d said Nandi-Ndaitwah yesterday.<\/p>\n

Nandi-Ndaitwah, who is also Namibia\u2019s deputy prime minister, was speaking during a high-level engagement on Africa and the reform of multilateral systems in collaboration with Amani Africa.<\/p>\n

Amani Africa, together with Namibia, initiated a high-level panel of experts on Africa and the reform of the multilateral system in the changing global order.<\/p>\n

The process was officially initiated on the sidelines of the February 2023 African Union summit.<\/p>\n

Amani Africa Media and Research Services is an independent pan-African policy research, training and consulting think tank with expertise on the African Union policy processes and a specialisation on the African Union Peace and Security Council.<\/p>\n

\u201cBesides the reform of the international peace and security architecture, it is also important to look at the development system as a whole, particularly the reform of international financial and economic orders,\u201d she said referring to multilateral bodies such as the World Bank, International Monitory Fund and the World Trade Organisation.<\/p>\n

Nandi-Ndaitwah says Africa\u2019s resources contribute enormously to global development and therefore the continent deserves to be treated as an important partner in contributing to global economic development.<\/p>\n

\u201cWe must not allow Africa to be undermined and be told that our demands are unrealistic while at the same time, the historical injustice done to Africa continues unabated,\u201d she stated.<\/p>\n

Nandi-Ndaitwah also highlighted that the UN Charter must be amended to reflect the will and desire for Africa\u2019s permanent representation on the Security Council.<\/p>\n

This, she said, will make it possible for bodies such as Amani Africa to serve the purpose in the interests of all people of the world.<\/p>\n

Namibia, as the chair of the SADC Organ on Politics, Defence and Security Cooperation and as a member of the AU Peace and Security Council, continues to advocate peace in the region through diplomacy.<\/p>\n

On his recent trip to France for the summit for the New Global Financial, Kenyan president William Ruto stated that there is a need for a financial transaction tax at a global level: \u201cWe do not want anything for free, you will pay more eventually because you have a bigger economy. We will pay what is commensurate to our economy and we want those resources controlled, not by IMF and World Bank because they have the final say and we have no say. We want another organisation of equals,\u201d said Ruto.<\/p>\n

He added: \u201cWe are saying we need a new financial architecture where governance, power is not in the hands of a few people. We can agree on the governance of the institution and agree on the sharing of power so that all of us have access to resources\u201d.<\/p>\n

Ethiopia\u2019s Prime Minister Abiy Ahmed said during France\u2019s climate summit African countries face an unprecedented financing squeeze that is forcing them to focus on managing debt rather than development.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Paheja Siririka Africa-Press – Namibia. International relations minister Netumbo Nandi-Ndaitwah says while the African continent has an abundance of resources, it has little to no control over global financial systems or international trade rules. She lamented the negative perception towards Africa, a continent viewed as a mere supplier of raw materials and which is incapable […]<\/p>\n","protected":false},"author":84,"featured_media":49618,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,12],"tags":[234,236,233],"class_list":["post-49619","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-policy","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nNandi-Ndaitwah calls for urgent reform of \u2018unfair\u2019 global financial systems - Namibia<\/title>\n<meta name=\"description\" content=\"International relations minister Netumbo Nandi-Ndaitwah says while the African continent has an abundance of resources, ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/nandi-ndaitwah-calls-for-urgent-reform-of-unfair-global-financial-systems\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nandi-Ndaitwah calls for urgent reform of \u2018unfair\u2019 global financial systems\" \/>\n<meta property=\"og:description\" content=\"International relations minister Netumbo Nandi-Ndaitwah says while the African continent has an abundance of resources, ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/nandi-ndaitwah-calls-for-urgent-reform-of-unfair-global-financial-systems\" \/>\n<meta property=\"og:site_name\" content=\"Namibia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-18T12:37:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-18T12:48:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2023\/07\/sm_1689671848.51842.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"479\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/nandi-ndaitwah-calls-for-urgent-reform-of-unfair-global-financial-systems#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/nandi-ndaitwah-calls-for-urgent-reform-of-unfair-global-financial-systems\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Nandi-Ndaitwah calls for urgent reform of \u2018unfair\u2019 global financial systems\",\"datePublished\":\"2023-07-18T12:37:36+00:00\",\"dateModified\":\"2023-07-18T12:48:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/nandi-ndaitwah-calls-for-urgent-reform-of-unfair-global-financial-systems\"},\"wordCount\":586,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/nandi-ndaitwah-calls-for-urgent-reform-of-unfair-global-financial-systems#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2023\/07\/sm_1689671848.51842.jpg\",\"keywords\":[\"africa press\",\"Africa Press-Namibia\",\"namibia\"],\"articleSection\":[\"all news\",\"economy\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/nandi-ndaitwah-calls-for-urgent-reform-of-unfair-global-financial-systems#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/nandi-ndaitwah-calls-for-urgent-reform-of-unfair-global-financial-systems\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/nandi-ndaitwah-calls-for-urgent-reform-of-unfair-global-financial-systems\",\"name\":\"Nandi-Ndaitwah calls for urgent reform of \u2018unfair\u2019 global financial systems - 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