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Equally significant is the communiqué’s endorsement of IMF quota and governance reforms. “We underscore the need for enhancing the representation and voice of developing countries in decision making in MDBs and other international economic and financial institutions. In that context, we welcome the creation of a 25th chair at the IMF Executive Board to enhance the voice and representation of Sub-Saharan Africa,” the statement affirms. A successful implementation of this would be an important victory for African countries, which have been campaigning for a greater voice in multilateral financial institutions, along with better financial terms that truly reflect the circumstances of a continent that is subjected to a risk premium in the international money markets.
The Leaders’ Declaration suggests Ramaphosa delivered on his promise: Africa is not peripheral but central, referenced throughout its 29 pages as it advances key African priorities — from security and debt to climate, energy, value chains, AI and cross-border infrastructure.
