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African nations pay 'extortionate' interest rates on debt, U.N. chief says

Women and girls still don't get the support they need, U.N. Secretary-General António Guterres said, and African nations cannot develop with "one hand tied behind their backs."

Leaders pose for a group photo at the African Union's annual summit
Leaders pose for a group photo at the African Union's annual summit (AN/African Union)

The global financial system is cheating African nations, the U.N. chief charged on Saturday in calling for another "Bretton Woods moment" to sort things out.

U.N. Secretary-General António Guterres told the opening of the African Union's annual summit in Ethiopia's capital Addis Ababa on Saturday that Africa's developing nations are rich with potential but repeatedly left in the lurch, oversaddled with high-interest debt payments.

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