The former president of Ghana, John Dramani Mahama, called for a "Marshall" plan for Africa to provide economic assistance to rebuild the continent's fiscal infrastructure, the Ghanaian news agency GNA reported for BTA.

He also welcomed the European Union's Global Gateway programme, which aims to raise €300 billion over the next seven years for infrastructure in Africa and the rest of the developing world.

Yesterday, Mahama delivered a lecture at "Chatham House" (Chatham House) in Great Britain on the topic: "Strategic priorities and the global role of Africa".

The lecture, among other issues, discussed the prospects for economic recovery and growth on the African continent in light of the recent debt crisis that forced African countries, including Ghana, to seek debt relief under the G20 common framework.

The former president also called for the reinstatement and extension of the Debt Service Suspension Initiative (DSSI) to provide African countries with some financial respite.

According to him, the expansion of the Common Debt Relief Framework beyond the DSSI will help African countries access debt restructuring tools and mechanisms.

The Ghanaian government is raising public sector wages

He stated that if Africa is to survive and be a source of hope for the rest of the world, it must, as an imperative, quickly use the advantages it has to ensure inclusive growth for its citizens.

Mahama said the continent, which boasts the world's largest free trade area with a market of over one billion people, is preparing to forge a new path of development.

He said the African Continental Free Trade Area (AfCFTA), which involves 55 countries with a combined GDP of over US$3.4 trillion, provides opportunities for shared growth and prosperity for Africa and the rest of the world.

On April 3, 1948, US President Harry Truman signed the Economic Recovery Act of 1948, which became known as the Marshall Plan because it was the name of Secretary of State George Marshall, who in 1947 proposed that the US provide economic aid to restore the economic infrastructure of post-war Europe.

After the end of World War II in 1945, Europe was in ruins, its cities destroyed, its economies devastated and its population facing starvation.

Africa

Ghana