Angolan President João Lourenço delivered a forceful call for sweeping reforms to the global financial system during the seventh African Union-European Union summit in Luanda, warning that Africa’s development ambitions are being “stifled by unsustainable debt.” As current chair of the African Union, Lourenço’s remarks underscore the escalating urgency of a debt crisis that now threatens more than 20 African nations with financial distress.
The summit, marking 25 years of AU-EU partnership, assembled heads of state and government from both continents in Angola’s capital to discuss critical economic, security, and development challenges. Lourenço’s address brought into sharp relief a fundamental tension: while African…