Ghana thanks Carney for working to fix a ‘rigged global system’ for African countries

Developing countries advocated for financial reforms at the Commonwealth summit.

Canada has for years called for reforms to financing rules for developing countries, many of which face high interest rates and crushing debtloads.

Many of those countries — particularly smaller island countries in the Caribbean and South Pacific — are also being hit hard and more often by natural disasters.

Carney’s predecessor Justin Trudeau co-led a United Nations project that advocated for reforms to how the World Bank and others extend financing to countries. The project’s goal was to free up capital that countries could invest in climate-resilient hospitals and schools.

Carney has called for reforms to multilateral development banks and used the G7 summit in Alberta last year to announce funding for those institutions to bring in private capital to meet goals in education and climate adaptation.

Ghana now faces its worst economic crisis in a generation, due in part to its debt structure and the effects of climate change on major crops like cocoa. These trends have contributed to coups and instability in other parts of West Africa.

“You are a fresh, new voice in terms of global advocacy,” Mahama told Carney.

“Africa has been talking about the rigged global system, where Africa borrows more expensively. Africa contributed the least to climate crisis — four per cent contribution to climate crises — yet faces some of the worst crises caused by the climate events, and have to borrow at a higher rate to be able to deal with those climate fallouts.”

Mahama also noted Carney’s advocacy for rules-based trade as the U.S. trade war continues.

“You are quite vocal on issues to do with the breakdown in multilateralism and the rise of unilateral actions by some nations,” he said, adding Canada has borne “the brunt of some of the strongest tariffs.”

Carney made a widely publicized speech to the World Economic Forum in Davos, Switzerland, in January. In it, he urged smaller countries to band together to limit coercion by superpowers.

Ghana is among many African states calling for a more equitable multilateral system. They’ve called for the United Nations to be restructured so rich, western countries share more power with other nations.

Global Affairs says Ottawa will ultimately appoint a special envoy for Africa, after leaving the post vacant since June.

The new role was part of the Trudeau government’s Africa Strategy, which called for Canada to shift its policy for the continent away from a focus on foreign aid, and to pursue more economic engagement and trade with the continent’s young population.

The Trudeau government delayed the Africa strategy for years, issued it without a news conference days before an election call, and provided no new funding for the strategy. In 2022 the Indo-Pacific strategy came with a $2.3 billion pledge.

Last December, as experts warned Canada was losing influence on a continent where it used to have stronger ties, the Senate foreign affairs committee urged the Carney government to clarify its stance on Africa.

Officials testified last week to the committee in response to that report. Cheryl Urban, who leads the Africa branch of Global Affairs Canada, confirmed a continental envoy will be appointed, though she wasn’t sure when.

“We are currently reviewing it but we will have an appointment,” she testified in French, adding that the government is looking for someone with a background in business and trade.

Mahama said Canada should work to restore the reputation it built on the continent decades ago through the work of former aid agency CIDA and as a major lender to African countries.

“Canada has had a very favourable … opinion in Ghana. I think that there are things we can do to build back up,” he said.

This report by The Canadian Press was first published Nov. 5, 2026.

Dylan Robertson, The Canadian Press

by The Canadian Press

Ghana thanks Carney for working to fix a ‘rigged global system’ for African countries

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