300,504FansLike
227FollowersFollow
6FollowersFollow
FollowersFollow
906FollowersFollow
138SubscribersSubscribe

African Union Chair Cyril Ramaphosa to join UN high-level event on development financing amid COVID-19

Although we are headquartered in Washington D.C. USA, our reporters and editors are working around the globe to cover what you care about. We invite you to donate to our fundraiser to help us keep our quality news free and available for all.

President Cyril Ramaphosa will on Thursday May 28, 2020, address and participate in a virtual United Nations High-Level Event on Financing for Development in the Era of COVID-19 and Beyond.

Mr. Ramaphosa will participate at the invitation of the United Nations Secretary-General António Guterres. 

The High-Level Event is jointly hosted by Prime Minister Justin Trudeau of Canada and Prime Minister Andrew Holness of Jamaica.

[read_more id="2" more="Read full article" less="Read less"]

The purpose is to formulate a comprehensive global response to provide support to developing countries to ensure that the COVID-19 pandemic does not derail achievement of the 17 Sustainable Development Goals of the UN’s 2030 Agenda for Sustainable Development.

Canada, Jamaica and the United Nations are convening the High-Level Event to join forces with Heads of State and Government and of International Organisations to provide concrete solutions to the COVID-19 development emergency.

The Event is expected to set a definite pathway to concrete and effective solutions to six pressing issues including:

1. The urgent need for expanding liquidity in the global economy, including through additional issuance of Special Drawing Rights (SDR) at the International Monetary Fund (IMF). 

2. The need for an across-the-board debt standstill for all developing countries that requests forbearance, meaningful debt relief and progress on the international debt architecture. 

3. The need to create a space in which private creditors can proactively engage in effective and timely solutions to the looming debt crisis and avoid the significantly higher cost to investors and societies that would result from a disorderly wave of defaults. 

4. Prerequisites for enhancing external finance for inclusive growth and creating jobs, including measures to enhance Foreign Direct Investment (FDI), portfolio investment, long-term credit facilities, and lowering the transactions costs of migrant remittances. 

5. Measures to prevent processing and receipt of Illicit Financial Flows (IFFs), assist in repatriating such flows, and prosecute perpetrators. 

6. Ensuring a sustainable and inclusive recovery by aligning recovery policies with Sustainable Development Goals.

[/read_more]

TODAY NEWS AFRICA
TODAY NEWS AFRICAhttps://todaynewsafrica.com
TODAY NEWS AFRICA is registered and headquartered in Washington, District of Columbia, United States of America. Our publication is widely read, respected and influential. By providing daily answers to questions our readers have about the people, the businesses and the continent of Africa, we are reaching a diverse and wide audience from around the world. Our readers, many of them world leaders, trust us because we are independent and truthful. Our advertisers understand the difference between news, views and ads. Contact us: contactus@todaynewsafrica.com

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Trending Now

300,504FansLike
227FollowersFollow
6FollowersFollow
1FollowersFollow
906FollowersFollow
138SubscribersSubscribe

JUST IN

Ramphosa urges world leaders to fight racism, grant Africa more Security Council seats, lift sanctions against Zimbabwe and Sudan and cancel continent’s interests on debt

African Union Chairperson, the President of South Africa, Cyril Ramaphosa, on Tuesday, urged the United Nations General Assembly to fight racism,...

More than 200,000 people have now died of COVID-19 in US, even as President Trump says coronavirus “affects virtually nobody”

More than 200,000 people have now died of COVID-19 in the United States, according to the Johns Hopkins University virus tracker,...

How the African Continental Free Trade Agreement can succeed

The President of the Nigerian Senate, Ahmad Lawan, seems to know exactly how the African Continental Free Trade Agreement can succeed....

Alleged Nigerian fraudster on FBI watchlist turns self in over $6m internet scam

The Nigerian Economic and Financial Crimes Commission, EFCC, has commenced the investigation of Felix Osilama Okpoh, an alleged fraudster on the watchlist...

Cybercriminals target South Africa, Kenya and Nigeria with millions of attacks in 2020, and the year is not over

South Africa, Kenya and Nigeria have already seen millions of cyberattacks in 2020 with three months to the end of the...

MOST POPULAR

IMF approves disbursement of additional $1 billion for Angola to respond to COVID-19 economic fallout

The International Monetary Fund (IMF) on Wednesday approved the disbursement of an additional $1 billion for Angola to respond to...

Damning report finds detainees in Iran were sexually abused and given electric shocks in gruesome post-protest crackdown

Iran’s police, intelligence and security forces, and prison officials have committed, with the complicity of judges and prosecutors, a catalogue of...

USAID awards millions of dollars to Washington State University to combat lethal livestock disease in East Africa known as East Coast Fever

The U.S. Agency for International Development (USAID) has awarded millions of dollars to Washington State University to combat a lethal livestock...

Ethiopia charges prominent opposition figure Jawar Mohammed with terrorism

As human rights organizations continue to warn that Prime Minister Abiy Ahmed is turning Ethiopia into a dictatorship, his administration on...

WHO and UNICEF sign 10-year partnership to promote mental health of children and adolescents

 A new partnership between WHO and UNICEF is calling for key actions in universal health coverage, mental health, emergencies and nutrition

Ramphosa urges world leaders to fight racism, grant Africa more Security Council seats, lift sanctions against Zimbabwe and Sudan and cancel continent’s interests on debt

African Union Chairperson, the President of South Africa, Cyril Ramaphosa, on Tuesday, urged the United Nations General Assembly to fight racism, grant Africa more Security Council seats, lift sanctions against Zimbabwe and Sudan, cancel the continent’s interests on debt and support the rollout of a comprehensive stimulus package for African countries.Mr. Ramaphosa, who was the first African leader...

Stay connected

[/read_more]

[read_more id="2" more="Read full article" less="Read less"]

Share
Tweet
WhatsApp
Reddit
Share