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Tanzanian President Samia Suluhu Hassan made a direct appeal to the G20 for the transfer of special drawing rights (SDRs) at the International Monetary Fund (IMF) to African financial institutions such as the African Development Bank (AfDB).
Tanzanian President Samia Suluhu Hassan made a direct appeal to the G20 for the transfer of special drawing rights (SDRs) at the International Monetary Fund (IMF) to African financial institutions such as the African Development Bank (AfDB). In remarks intended for the plenary session of leaders at the Rio de Janeiro conference premises in Brazil, the president said that Africa needs a fairer global financial system, one that includes preferential mechanisms to better support developing countries.
Tanzania seeks further debt relief, increased aid and concessional loans that address current needs and vulnerabilities, she said, voicing strong support for enhanced international cooperation such as the G20’s Global Alliance against hunger and poverty, to promote innovation and inclusive growth.
Experts noted that the remarks take to the next stage appeals issued back in May 2022 in annual meetings of the board of governors and state parties to the AfDB at its annual meeting in the Ghanaian capital of Accra, where the president appealed to multilateral financiers to allow the AfDB to access SDR allocations to benefit African countries in development. This underlines that Africa will be close to getting funds from its bank for its development.
At the G20 event, she highlighted that Africa was grappling with unsustainable levels of poverty, hunger, disease, malnutrition and low productivity, asserting that many young people are facing compounded challenges. She stated that the situation is driven by ongoing conflicts and international policies that exacerbate food shortages, hinder competition and limit access to critical markets and technologies.
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She further stated that a fair and sustainable world is only possible when developing countries like Tanzania receive the support, resources and representation necessary to drive sustainable development. Despite the challenges, Tanzania has made significant progress through policy and institutional reforms. This includes targeted investments aimed at transforming its agricultural systems, as 61.5 per cent of the country’s workforce is employed in agriculture, and our efforts have raised the sector’s growth rate to 4.2 per cent. These efforts have resulted in food self-sufficiency reaching 128 per cent, while poverty levels have dropped to 26.4 per cent in 2023.
