The African Union, representing 55 member states and 1.4 billion people, secured permanent representation in the G20 last year and is pushing for reform of international financial institutions including the International Monetary Fund and World Bank that would give African nations greater voting power. The campaign reflects growing frustration with an international order established in 1945 when most African countries did not yet exist as independent states.
Concrete demands include changes to IMF special drawing rights allocation formulas, expanded World Bank lending for infrastructure, and greater African input into global debt restructuring processes that affect the continent's highly indebted nations. China has positioned itself as a champion of African institutional reform while simultaneously operating as a major bilateral creditor whose own lending practices have been criticized as creating debt dependency.
