The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has said that the global economy is changing fast.
In order to secure a sustainable & inclusive future, she urged countries to put their houses in order and act collectively for the next generation.
She said in a post on her X page, after speaking at the 80th United Nations General Assembly Biennial Summit on Financing for Development on Wednesday, September 24.
Several dignitaries, including African Development Bank Group President Sidi Ould Tah are attending the 80th UN General Assembly in New York.
Sidi Ould Tah is pushing the continent’s development priorities and mobilise support for the replenishment of its concessional lending arm the African Development Fund.
High on Dr Ould Tah’s packed agenda are financing, resource mobilization, climate change, African financial architecture, concessional resources, socio-economic fragility, regional integration, peace and security.
As a guest speaker at several sideline events, he will have the opportunity to present his strategic vision, based on four cardinal points: achieving self-sufficiency and unlocking Africa’s potential; reforming Africa’s financial architecture; transforming population growth into an economic engine for job creation for women and youth; and building climate-resilient infrastructure and creating added value.
Since Sunday, Dr Ould Tah has met with several global development leaders and heads of government.
The president of the Bank held talks with Ms Amina J. Mohammed, Deputy Secretary-General of the United Nations, on prospects for strengthening cooperation between the two institutions. Dr Ould Tah praised Africa’s resilience and commitment in the face of current challenges and stressed the need for development partners to work together to build a new African financial system, drawing on each other’s strengths.
In a meeting with UNFPA Executive Director Ms Diene Keita, he affirmed the importance of maternal health, stressing the importance of transforming Africa’s demographics into a demographic dividend.
“This means investing in mothers and girls today,” Dr Ould Tah added.
With Botswana’s President Duma Gideon Boko, Dr Ould Tah discussed the country’s strategic priorities and opportunities for partnership with the Bank. President Boko stressed the need to “diversify the economy beyond diamonds and invest in infrastructure, particularly rail interconnectivity, to position Botswana on major regional trade corridors.” For his part, President Ould Tah stressed the importance of developing natural resources as a lever for job creation for African youth.
Dr Ould Tah held a one-on-one meeting with Sheikh Shakhboot Nahyan Al Nahyan, Minister of State for Foreign Affairs of the United Arab Emirates, who reaffirmed that his government is ‘ready to support the Bank’s mission in every way possible’ and to strengthen the relationship.
On Wednesday, Dr Ould Tah will participate in the launch of new National Energy Compacts under Mission 300, a joint initiative between the World Bank and the African Development Bank Group to provide electricity to 300 million Africans by 2030.
A trilateral meeting focusing on continental issues is scheduled with the Chairperson
of the African Union Commission, Mahmoud Ali Youssouf, and the Executive Secretary of the United Nations Economic Commission for Africa, Claver Gatete.
The seventeenth replenishment of the African Development Fund, the concessional window of the African Development Bank Group is coming up in December.
Among Dr Ould Tah’s priorities will be to drum up support for the upcoming replenishment, amidst a global climate of dwindling development aid. On Tuesday, he confirmed that several African countries have pledged support for the fund, which is a key source of financing for 37 low-income African countries.
Source:3news.com
