Africa’s recovery takes centre stage

AFRICA’S economic recovery from the combined brunt of the Ukraine war and the Covid-19 pandemic is taking centre stage at a flagship economic development conference.

The 54th session of the Conference of African Ministers of Finance, Planning and Economic Development is under way in Dakar, Senegal.

Experts, who met last week to set the tone for the ministerial session taking place today and tomorrow, urged countries to explore creative ways to finance the continent’s recovery.

The executive secretary of the UN’s Economic Commission for Africa, Vera Songwe, urged participants to share their experiences and ideas to “break the cycle of solely donor contributed aid”.

“As we look at the gains we have made in the last decade and the gains that have been taken away by the Ukraine crisis, we can rethink what kind of growth Africa can have,” a Economic Commission for Africa statement quoted Songwe as saying. “We must do this as a continent, not as individual countries.”

The gathering brought together participants from governments, academia, the private sector, and central bank governors, according to the statement. |