IMF, Germany strengthen partnership for capacity development in Africa
The International Monetary Fund (IMF) and Germany's Federal Ministry for Economic Cooperation and Development (BMZ) have strengthened their cooperation on capacity development (CD) in Africa.
Late September, Germany's Minister for Economic Cooperation and Development, Dr. Gerd Müller, announced that the BMZ would support the IMF's CD efforts in Africa with a contribution of €15 million. This will make Germany one of the IMF's largest CD partners in the region, bringing its total contribution to IMF CD in Africa to €30 million over the next three years.
In light of the announcement, IMF Managing Director, Christine Lagarde, stated that: “Under Germany's leadership, job creation and poverty reduction in Africa have become strong priorities for the G20. We are pleased to deepen our partnership with Germany through the Federal Ministry for Economic Cooperation and Development and to continue working with Africa policymakers as they build resilient macroeconomic institutions that support investment and sustainable, inclusive growth.”