G20 Summit urges action on Africa's debt and development challenges

At the G20 Leaders' Summit, global leaders unanimously endorsed the South Africa G20 Africa Expert Panel report, urging amplification of the Global South's voice in international institutions, fair trade, financial reforms, and debt relief for developing nations. The report, handed to President Cyril Ramaphosa, calls for shifting from outdated development models treating Africa as raw material exporters toward productive investments via the African Development Bank and workforce expansion, while Italy pledged to halve debt for low- and middle-income African countries over the next decade amid $1.815 trillion in public debt and $163 billion in annual servicing. This commitment underscores multilateral efforts to tackle economic fragmentation and debt crises, fostering inclusive growth and sustainable development for Africa.