[ad_1]
According to the Central Bank Governor, several distinguished speakers spoke about the need to ensure Africa has a seat at the table in decision-making in the global financial architecture.
“Those are some of the things that are going to be in the memorandum. The other two things are of course around energy access and that is where the African Development Bank and the World Bank will take the lead in supporting the continent,” he said.
The African Caucus was established in 1963 and is held annually to strengthen the voice of African governors in the Bretton Woods Institutions (BWI).
The theme of this year’s conference is “Boosting Intra-African Trade: A Catalyst for Sustainable Economic Growth in Africa”, reflecting the member countries’ shared commitment to driving Africa’s economic progress.
Garang said Nigerian President Mustafa, speaking through Vice President Kassim Shetima Mustafa, stressed the need for reforms to put the African continent on a good economic path.
He pointed out that fair financing is one of the issues that needs to be addressed in the memorandum and the manifesto.
Alick said unemployment was one of the issues that the governors were aware of, with unemployment rates in the region and the continent reaching the highest levels, especially among the youth.
Therefore, he said that a special section will be set up in the memorandum to focus on improving youth employment in an all-round way, because as we have seen, this does not apply to just one country.
“It goes from east to south and west to north,” Alick explained.
“So, the governors are very aware and will ensure that policies are put in place that focus on the youth agenda and youth employment to address their issues,” he said.
Nigerian President Bola Ahmed Tinubu said his government is currently adopting bold economic policies to drive the Nigerian economy out of the recession caused by multiple shocks in the global economy.
He also called on African countries to engage in global cooperation to address common economic challenges and seize opportunities.
Tinubu said that while Africa is grappling with “many challenges in the economic, humanitarian and social spheres,” countries must take the necessary steps to transform opportunities in natural resources and human capital into growth, innovation and cooperation.
Tinubu said the core group meeting was an important platform for sharing experiences, building partnerships and charting a common way forward.
“Africa’s story is one of resilience, creativity and hope. Indeed, we have made significant progress in recent years, with many countries experiencing remarkable economic growth, social progress and political stability,” the President stressed.
“However, obstacles such as rising poverty, increasing debt in many countries, inequality and conflict continue to widen the gap between our continent and the 2030 Sustainable Development Goals. This is a matter of serious concern,” he added.
Meanwhile, the African Union Commissioner for Economic Development, Trade, Tourism, Industry and Mines, Ambassador Albert Muchanga, stressed the importance of mobilizing domestic resources.
“We must see the African market as a viable channel for mobilizing domestic resources to solve the continent’s existential problems,” he noted.
(English stone)
[ad_2]
Source link
