United Nations Secretary-General Antonio Guterres warned of Africa’s worsening debt crisis, calling it “unsustainable” and a “recipe for social unrest” during the China-Africa Cooperation Summit in Beijing on Thursday.
He urged for “deep reforms” to what he described as an “outdated, ineffective, and unfair” international financial system, emphasising the need to provide developing nations with more liquidity to address pressing challenges like climate change.
The summit, hosted by China, brought together leaders from 50 African countries. Guterres highlighted the growing debt crisis across the continent, which has led to civil unrest in several nations, including Kenya. He pointed out that many African countries are trapped in debt and lack access to effective relief, making it difficult for them to invest in sustainable development or address the climate crisis.
“Many African nations face scarce resources and insufficient concessional funding to meet basic needs or shield their populations from climate impacts they did not cause,” Guterres said.
China, which has played a growing role in Africa since the forum’s inception in 2000, has heavily invested in the continent’s mining, infrastructure, and development projects. Chinese companies have provided loans for railways, roads, and other infrastructure projects, while the country has become sub-Saharan Africa’s largest bilateral trading partner.
However, Africa’s leaders are pushing to reduce trade imbalances, seeking Chinese support to expand agricultural exports and industrialize their economies. Guterres emphasized that Chinese-African cooperation has the potential to drive progress in areas like energy, food security, and technology.
