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African Economy and Finance: Speakers, Heads of Parliament Commence Deliberation on External Loans Debt Relief
Category :- Economy and Finance Author :- L J KINGAH 
Posted on October 13, 2020, 12:00 am
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While resolving to improve oversight over loan approvals and endure judicious utilization of loans in their respective countries, speakers and Heads of African Parliaments have started deliberation on ways to get debt relief for the external loans African countries have taken.

Femi Gbajabiamila

It was during the official formation and launching of the Conference of Speakers and Heads of African Parliaments - CoSAP initiated by Femi Gbajabiamila, the Speaker of the Nigerian House of Representatives that the agreement was reached.

According to Lanre Lasisi, Femi Gbajabiamila’s Special Adviser on a statement on Monday October 12th on Media and Publicity, the idea was due to the shared concern over the socio-economic effect of Covid-19 on African countries. As such the Conference of Speakers and Heads of African Parliaments was formed to moot this idea.

Some countries who has officially agreed and will be taking part in the maiden conference of CoSAP which will be held in Nigeria come 2021 are Nigeria, Ghana, Kenya, and Ethiopia. Speakers from these other African countries to take measures for debt cancellation include Aaron Oquaye, Speaker of Parliament, Republic of Ghana; Justin Muturi, Speaker, National Assembly, Kenya; Tagesse Chafo, Speaker, House of Peoples, Ethiopia.

Femi Gbajabiamila

CoSAP initiator, Gbajabiamila, called for advocacy for the expansion as well as collaboration of other African Speakers and Heads of Parliaments in this mission as they prepare for a maiden conference come 2021.

Meantime, Ms. Gabriela Barron is the President of the Inter-Parliamentary Union, and has shown tremendous support for CoSAP, according to Gbajabiamila.

 The members set some objectives at the end of the meeting including the discussion and agreement on a ‘Plan of Action’ on how to collaborate and contribute in the ongoing campaign for Africa’s debt relief, according to a communiqué issued at the end of the meeting.

Femi Gbajabiamila

 It equally noted that the two meetings of the CoSAP held so far had as vision, the Debt Cancellation Campaign Initiative.

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