Luanda - Angola's Permanent Representative to the United Nations, Francisco José da Cruz, stressed Thursday in Luanda the need for the African Union (AU) to participate in the Fourth International Conference on Financing for Development, to be held in Seville, Spain, with a strategic vision of its objectives.
Francisco da Cruz supported his position by stating that it is an opportunity for easier and fairer access to financial resources for the implementation of projects aimed at investment and social and economic progress in Africa.
The diplomat reiterated the position of the President of the Angolan Republic, who is also the Chairman of the African Union, João Lourenço, in the construction of a new international financial architecture.
Francisco da Cruz stressed the importance of creating an African Financial Rating Agency to ensure fairer assessments in line with the continent's economic reality, arguing that international agencies do not always accurately reflect progress and ongoing reforms, which can make access to financing more difficult.
ART/MRA/AMP
