Russia-Africa summit calls for greater African influence at IMF and World Bank
By the AFREEQUE newsroom, based on Mali Actu
The declaration of the third Russia-Africa summit calls for increased African representation at the IMF and World Bank, and for open, inclusive and non-discriminatory trade rules to be preserved at the WTO. These reform demands appear in the summit declaration, which also advocates greater participation by African countries in global financial governance.
Russia and African countries are calling for reform of the IMF, the World Bank and the WTO to increase Africa’s influence in international financial decisions, according to the declaration of the third Russia-Africa summit reported by Mali Actu. They are advocating governance based on depoliticisation, equality and respect for the interests of all members.
For the IMF and the World Bank, the declaration calls for increased representation of African countries in governing bodies and stronger participation by the continent in decision-making. At the WTO, Russia and its African partners support an open, transparent, inclusive and non-discriminatory trading system based on consensus and the most-favoured-nation principle, with specific provisions for developing and least-developed countries.
The demand comes after the Moscow declaration on areas of Russia-Africa cooperation, published on 30 October. The Russia-Africa summit was held alongside an economic and humanitarian forum devoted to trade, investment and the modernisation of payment systems, scheduled for 28 and 29 October, according to Mali Actu.
