President William has taken a swipe at the global financial system architecture over what he terms as a system that has deliberately locked Africa from resources that are otherwise necessary for investment.
“It is our role to persistently bring to the attention of the world the importance of abandoning a fundamentally unjust glo0bal financial system,” said the president. The head of state has further observed that the international financial system is riddled with prejudicial biases and attitudes underpainting it, an aspect he says is not solely for the continent’s sake but anchored towards averting the collective peril of humanity.
The president has recently been very critical of the financial system of the global state. Ink has not dried over his remarks calling on leaders across the African continent to adopt the use of local currencies as modes of payment to boost trade as well as strengthening African financial institutions.
The use of the dollar, the head of state said, is restricting trade within the continent amid the scarcity of the American currency due to high demand. The head of state was speaking during a joint media address with his Djibouti counterpart Ismail Omar Guelleh.
The president will also address the 14th Ordinary Session of the IGAD Assembly of Heads of State and Government that brings together leaders from IGAD member states to deliberate on crucial matters pertaining to peace, security, and development in the region.
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