Priorities for an Equitable Reform of the Global Financial System

The African Climate Foundation

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Abstract: This paper draws on a series of policy and reform proposals from African leaders. It builds on initiatives emerging from the Global South and puts forward a set of recommendations, reflecting Africa’s priorities in advancing equitable reform of the international financial architecture. This includes the ongoing work of African Ministers of Finance in UNECA – coordinated High-Level Working Group on the Global Financial Architecture, the Sustainable Debt Coalition, the Vulnerable Twenty Group (V20) “Accra Marrakech Agenda,” the African Group of Negotiators, the 2023 African Caucus and Bridgetown Initiative. It envisions that its proposals could act as a roadmap for climate finance talks and focal points to advocate for Africa’s agenda and strategic priorities at the global level and at pivotal moments.