December 10, 2022

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Cape Verde to host 2021 African Hybrid Economic Conference on Development Funding for Govt-19s

The 2021 edition of the African Economic Forum, which begins on Thursday, December 2, is expected to provide an opportunity for heads of state and policymakers to share their views on how to redesign Africa’s development finance models.

Cape Verde’s Deputy Prime Minister and Minister of Finance, Olavo Correa, declared the conference a “very important opportunity” to explore ways of mobilizing national resources and to list the curriculum for continental development, including modernization and creation. Efficient financial and financial regimes. He says this is especially important considering the COVID-19 infection. Korea says this is the right time to explore ways to tackle crime by reducing tax evasion, fraud and other evidence.

The 2021 edition of the African Economic Conference is organized by the government of Cape Verde in a hybrid form, in accordance with the health guidelines taken in the event of an epidemic. A small group of conference participants will meet physically at Sal, a popular tourist destination in the country. The rest will almost certainly participate. The conference is jointly organized by the African Development Bank, the Economic Commission for Africa and the United Nations Development Program.

Partners brought together leading thinkers including Nobel Laureate Roger Myerson, Cape Verde’s Deputy Prime Minister and Minister of Finance, Cabo Verde Olao Avelino Garcia Correa, President of the Global Development Center Masood Ahmed and Africa Development Solutions Group CEO Samba Patili. To discuss the most pressing challenges of the continent. Discussions will focus on strengthening Africa’s position in the international financial system, restructuring development funds, and mobilizing domestic public and private resources in the age of the digital revolution.

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The average growth of the African economy is estimated at 3.4% this year, after the worst recession in 50 years, by 2020. However, this development may be adversely affected by the slowness and uncertainty of the vaccination process. , Published last week by scientists in South Africa. The conference concludes on December 4th.

“The Govt-19 epidemic has taught us that the current situation can lead to failure,” said Raymond Gilpin, chairman of the Strategy, Analysis and Research Committee at the UNDP Regional Office for Africa. “This conference provides an opportunity to explore innovative solutions and sustainable options for financing the development of African countries. During the conference, we will explore 36 innovative experiential analyzes that suggest ways to differentiate development. The 2021 African Economic Conference will provide us with a unique opportunity to contribute to much needed restoration across Africa.”

“Increasingly, the continent sees capital markets as a source of funding, taking into account the future of Africa’s financial structure or speculation, as well as the stability of Africa. We hope this conference will be an opportunity for African governments to develop plans that see the contribution of private sector funding as part of the recovery process.” Says Bartholomew Arma, director of the macroeconomics and research division at the Economic Commission for Africa.

Hanan Morsi, director of macroeconomic policy, forecasting and research at the African Development Bank, said: “Funding Africa’s post-Govt. 19 development will require the necessary solutions to mobilize more national resources and attract more private investment. The 2021 edition of the African Economic Conference will provide concrete and viable policy recommendations on how to achieve these three goals, based on the rich and extensive experience of top policymakers, development trainers, private sector stakeholders, academics and other stakeholders. Who will attend the conference? ”

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