Statement on the global economic and financial crisis to the 12th ordinary session of the Assembly of Heads of State and Government of the African Union: by Mr. Abdoulie Janneh, UN Under-Secretary-General and Executive Secretary of ECA
Statement by Mr. Abdoulie Janneh, UN Under-Secretary-General and Executive Secretary of ECA at the Global Economic and Financial Crisis to the 12th Ordinary Session of the Assembly of Heads of State and Government of The African Union. Mr. Janneh, on his remarks highlighted that, Africa 's banking systems have not been affected by the crisis because of prior reforms and limited integration into the global economy, the threat to its real economy is indisputable. Africa has made in the recent past in both economic and social sectors. Better macroeconomic management, strong commodity prices and reduced debt underpinned Africa's recent good economic performance. We need to scale up our efforts to promote economic diversification and increase the mobilization of domestic resources. Better governance is essential to improve the functioning of the international monetary and financial system and it is crucial to ensure that financial supervision keeps up with financial innovation. Africa should use its existing institutions to the fullest in responding to the crisis. The African Union, African Development Bank and Economic Commission for Africa are already working closely together to assist in assessing the impact of the current crisis and in fashioning a common African position on needed reforms.
| Format: | Speech biblioteca |
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| Language: | eng |
| Published: |
2009-02
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| Online Access: | https://hdl.handle.net/10855/47135 |
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