Ghana thanks Carney for working to fix a ‘rigged global system’ for African countries

President of Ghana, John Mahama, commended Canada for its advocacy against what he described as a "rigged global system" that keeps African countries burdened by debt and climate-related crises. This came during a meeting with Canadian Prime Minister Mark Carney at the Commonwealth summit in Antigua and Barbuda.

Ghana's President emphasized that Canada has a "favourable disposition towards the Global South," suggesting a closer collaboration in light of the current global situation. Developing countries pushed for financial reforms at the Commonwealth summit, and Canada has long been advocating for reforms to financing rules for developing nations, many of which are faced with high interest rates and significant debt burdens.

Canada has been calling for reforms to the financing rules for developing countries for years, particularly addressing the issue of high interest rates and crushing debt loads. Smaller island countries in the Caribbean and South Pacific are especially vulnerable to natural disasters. Carney's predecessor, Justin Trudeau, co-led a United Nations project aimed at reforming how the World Bank and other institutions extend financing to countries, with the goal of freeing up capital for climate-resilient projects such as hospitals and schools.

In response to Ghana's economic crisis, which is largely due to its debt structure and the impacts of climate change on key crops like cocoa, Mahama told Carney that Canada is a "fresh, new voice" in global advocacy. He highlighted Canada's advocacy for rules-based trade as the U.S. trade war continues and its vocal stance against the breakdown of multilateralism and unilateral actions by some nations. Mahama also praised Canada for bearing "the brunt of some of the strongest tariffs" during the trade conflict.

Carney made a notable speech at the World Economic Forum in Davos, Switzerland, in January, urging smaller countries to unite to counter the coercion of superpowers. Ghana, along with many other African states, is calling for a more equitable multilateral system, including restructuring the United Nations to ensure that rich, western countries share more power with other nations.

The Canadian government plans to appoint a special envoy for Africa, following a period where the post was left vacant since June. This move is part of the Trudeau government’s Africa Strategy, which aimed to shift Canada's policy focus from foreign aid to economic engagement and trade with the continent's growing population. However, the strategy was delayed for years, announced without a news conference just before an election, and was not accompanied by new funding.

In 2022, the Indo-Pacific strategy was announced with a $2.3 billion pledge, and last December, as Canada faced criticism for losing influence on the continent, the Senate foreign affairs committee urged the government to clarify its stance on Africa.