African business and economy reporters are set to gather in Accra, Ghana next month for the third African Forum and Network on Debt and Development (AFRODAD) Media Initiative.
From March 29-31, 2023 the third AFRODAD) Media Initiative (AFROMEDI) III is expected to contribute to African journalists’ existing knowledge and understanding of debt management and related financing issues in Africa, according to the organizers, which includes African Centre for Energy Policy (ACEP).
The gathering involving journalists from about 31 countries also aims to empower participants with principles of transparency, accountability and good governance, and effectively promoting them for sustainable debt management. It is also stated to serve as an opportunity to exchanging innovative and effective techniques for finding hidden information and overcoming challenges to expression and using formal and informal channels for maximum impact. In addition, it is also expected to introduce new participants to the Media Debt Network Africa for continuous collaboration beyond AFROMEDI III.
“AFRODAD is a Pan-African organisation committed to assisting the long-term development of the continent; by promoting prudent debt and resource management, while also supporting the development of solutions to multiple intersecting crises. ACEP seeks to contribute to the development of alternative and innovative policy interventions through high-quality research, analysis and advocacy in the energy and extractives sector in Africa,” AFRODAD stated in its concept note information of the upcoming meeting of African journalist.
“AFROMEDI III comes at a time when Africa is threatened with a debt crisis and attempts to deal with this predicament beyond Heavily Indebted Poor Country Initiative (HIPC) and Multilateral Debt Relief Initiative (MDRI), include: (i) the Debt Service Suspension Initiative (DSSI) which postponed debt payment up to December 2021 to permit countries save up resources to combat the adverse effects of covid19; and (ii) the G20 Common Framework for Debt Treatment Beyond DSSI which has so far receives response from Chad, Ethiopia, Zambia and most recently Ghana,” it said.
Indicating that Africa is currently ailing from chronic trade deficits, AFRODAD stated that the acceleration of the African Continental Free Trade Area (AfCFTA)’s implementation is much needed and aligned to the Pan-African Vision of “An integrated, prosperous and peaceful Africa” enshrined in Agenda 2063.
“Hosting AFROMEDI III in Ghana is informed by its position as host of the AfCFTA which is a good thing, and the so not so good concerning it’s unsustainable debt levels that have led to debt repayment suspension till debt cancellation, and the application for debt restructuring through the G20 Common Framework,” it said.
Journalists from Angola, Benin, Burkina Faso, Burundi, Cameroon, Chad, Comoros, Central African Republic, Congo Brazzaville, Cote d’Ivoire, Gambia, Ghana, Guinee Konakry, Kenya, Liberia, Madagascar, Malawi, Mali, Mauritius, Mozambique, Niger, Nigeria, Swaziland, Senegal, South Africa, South Sudan, Togo, Uganda, Zambia and Zimbabwe, are among the participants of this year’s gathering accoring to the organizers (AFRODAD and ACEP).