Mobilization of Financial Resources for Development of Africa Depends on Unification of Ranks of Continent Countries (Minister)

07 July 2022 Printable Version

Marrakech - The mobilization of resources for the development of Africa remains dependent on the unification of the ranks of the countries of the continent and their common desire to speak with one voice, said Wednesday in Marrakech, Minister of Economy and Finance, Nadia Fettah Alaoui.

"Our common will to unite our ranks and speak with one voice will be essential to draw the world's attention to Africa and mobilize resources for the development of the continent," noted the Minister at the closing ceremony of the Meeting of the African Group of Finance Ministers and Central Bank Governors of the 54 African Member States of the World Bank and the International Monetary Fund "African Caucus".

In this context, Fettah Alaoui said that this meeting has emphasized the need to ensure a fairer international financial system and a realistic treatment of debt servicing that can help free up resources essential for development, highlighting the unique partnership linking the "African Caucus" and the Bretton Woods Institutions (BWI).

She also said that the African Caucus 2022 has raised important points that can help African countries to develop strategies and overcome the many challenges they currently face.

"This meeting has helped prepare a memorandum to the president of the WB and the president of the IMF recalling the priorities for the continent and asking the BWI greater mobilization to find more solutions and more resources to support African countries," she noted.