Debt Crisis Sparks Social Unrest in Africa: Guterres Calls for Financial Reforms

United Nations Secretary-General Antonio Guterres has highlighted the growing debt crisis in African countries as a major cause of social unrest. He proposed significant reforms to the international financial architecture during a China-Africa cooperation summit. The remarks come amid rising civil unrest in several nations due to economic hardship.

United Nations Secretary-General Antonio Guterres has raised the alarm over the growing debt crisis in African countries, labeling it as a major catalyst for social unrest. He made these remarks on Thursday at a China-Africa cooperation summit, proposing significant reforms to the international financial architecture.

Guterres highlighted that African nations have inadequate access to effective debt relief, which has exacerbated economic hardships and led to civil unrest across several countries. Zambia recently became the first country to restructure its debt under the G20's 'Common Framework' after a three-year struggle.

China's President Xi Jinping pledged 360 billion yuan in new financing for Africa, totaling $50.70 billion over the next three years. This announcement comes as Beijing hosted the ninth Forum on China-Africa Cooperation Summit, where Guterres praised China's initiatives that could drive sustainable development and key transitions in food systems and digital connectivity.

(With inputs from agencies.)