IMF-WORLD BANK ANNUAL SPRING MEETINGS
AFRICAN CONSULTATIVE GROUP MEETING WITH THE IMF MANAGING DIRECTOR
Remarks
By
Mr. Claver Gatete
United Nations Under-Secretary-General and
Executive Secretary of ECA
Washington DC, USA
22 April 2025
We are meeting at a critical time of profound economic, social and geopolitical uncertainty. The challenges confronting our continent today are complex and deeply intertwined.
From the persistent funding squeeze to trade disruptions and rising debt vulnerabilities, African economies today are navigating turbulent waters.
I would like to thank you Kristalina and the IMF team for progress made in line with the recommendations of the Africa High-level Working Group on the Global Financial Architecture. In particular, we note the reforms to the Resilience and Sustanability Fund to have more catalytical role in attracting additional finance, broadening scope to include pandemic preparedness, strengthening collaboration with MDBs and streamlining programme reform measures.
We also welcome maintain higher GRA Access limits and commend progress made on reforming IMF Arrears Policy during debt structuring.
However, there is more that needs to be done.
At the recent ECA Conference of Ministers, three key priorities emerged that can help steer Africa toward resilience, inclusion and transformation.
First, we must accelerate the implementation of the African Continental Free Trade Area (AfCFTA).
We must build across sectors regional value chains that are competitive, climate-smart, digitally enabled, and inclusive, harmonize industrial policies, and improve infrastructure and logistics.
Second, we must strengthen the mobilization and effective utilization of our own resources.
We must enhance tax revenue collection through digitalization, broaden our tax base and improve tax administration, boldly combat illicit financial flows and revenue leakages, and develop our domestic financial markets.
Third, we must continue advancing the reform of the global financial architecture, ensure Africa has enough representation in the decision-making process, and align our common positions in key global platforms, such as G20, FfD4, and UN Tax Convention.
We count on your engagement to secure meaningful reform in these areas, and ECA remains your committed partner in this journey.