Two-day high-level conference on “Africa Rising: Building to the Future”, convened by the Mozambican government and the International Monetary Fund has kicked off in Maputo on Thursday. Delegates at the conference are discussing the challenges facing sub-Saharan Africa as it builds upon the strong economic gains made since the 2008 global economic crisis, its organizers say.
Among the issues they will discuss are inclusive growth, structural transformation, natural resources management, and how the IMF can continue to support African countries’ economic growth.
“The gains of the last decade, during which many countries in sub-Saharan Africa saw sustained high rates of economic growth and an impressive reduction in poverty, have been nothing short of remarkable,” said IMF director Christine Lagarde in a statement before the start of the summit.
Lagarde is joining more than 300 participants, including finance ministers and central bank governors from throughout Africa to discuss the way forward for the continent where extreme poverty is still too prevalent and poses new challenges for the global economy.
The IMF’s latest “Regional Economic Outlook for Sub-Saharan Africa” from April projected economic growth in Sub-Saharan Africa to pick up to about 5.4 percent this year and 5.5 percent in 2015 from 4.9 percent in 2013.
Excluding South Africa, growth is expected to reach 6.5 percent in 2014 and 2015.
Speakers at the conference will also come from development partners, including countries such as Australia, Brazil and China, the private sector and civil society.
( Courtesy IMF, APA & AGENCIES ……… Source ……. NEW AFRICA BUSINESS NEWS)