Statement of Solidarity during the 16th Annual Conference of the Southern African Development Community Organisation of Public Accounts Committees (SADCOPAC)

The statement emphasizes the need for African solidarity to combat a severe debt crisis and a 'colonial and extractivism modus operandi' in the international financial system. It calls for an overhaul of the Global Economic and Financial Architecture and urges Parliamentary Committees to utilize the SADC PF model Public Finance Management law to enhance oversight and accountability. The text highlights efforts by the Africa Group in the UN to establish a Framework Convention on Tax Rules and a Global Legal Framework for debt, asserting that Africa must set the rules for global economic governance to ensure sovereignty and regional prosperity.

• Africa is currently facing a debt crisis more severe than the one in the late 1990s and early 2000s, with nearly 50% of the continent's countries spending more on debt service interest payments than on health and education investments.
• AFRODAD advocates for a complete overhaul of the Global Economic and Financial Architecture to move away from a system characterized by colonial and extractivist practices.
• The SADC PF model Public Finance Management law, adopted in 2021 in Lilongwe, Malawi, is presented as a tool for national and regional parliaments to optimize oversight of public finances.
• The Africa Group within the United Nations is leading initiatives to create a UN Framework Convention on Tax Rules and a Global Legal Framework for managing debt.

APA

African Forum and Network on Debt and Development (2024). Statement of Solidarity during the 16th Annual Conference of the Southern African Development Community Organisation of Public Accounts Committees (SADCOPAC). https://www.afrodad.org/campaign/statements/statement-solidarity-during-16th-annual-conference-southern-african-development

Chicago

African Forum and Network on Debt and Development. Statement of Solidarity during the 16th Annual Conference of the Southern African Development Community Organisation of Public Accounts Committees (SADCOPAC). 2024. https://www.afrodad.org/campaign/statements/statement-solidarity-during-16th-annual-conference-southern-african-development.

Wikipedia

{{cite press release |author=African Forum and Network on Debt and Development |title=Statement of Solidarity during the 16th Annual Conference of the Southern African Development Community Organisation of Public Accounts Committees (SADCOPAC) |date=10 September 2024 |url=https://www.afrodad.org/campaign/statements/statement-solidarity-during-16th-annual-conference-southern-african-development |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@misc{africanforumandnetworkondebtanddevelopment2024statement, author = {{African Forum and Network on Debt and Development}}, title = {{Statement of Solidarity during the 16th Annual Conference of the Southern African Development Community Organisation of Public Accounts Committees (SADCOPAC)}}, publisher = {African Forum and Network on Debt and Development}, year = {2024}, month = sep, url = {https://www.afrodad.org/campaign/statements/statement-solidarity-during-16th-annual-conference-southern-african-development}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }