Finance ministers meet in Algiers for development conference
Ministers of finance and economic development from across African will be meeting in Algiers on May 8-10, to discuss a Single Africa led initiative to mediate partnership between Africa and its partners that will define the way forward in Africa's development.
The ministers will meet for the Ninth Session of the Joint Conference of African Ministers of Finance and Ministers of Planning and Economic Development, at the Palais des Nations, where discussions will focus on the Millennium Plan (MAP)--an initiative proposed last year by Presidents Abdelaziz Bouteflika of Algeria, Olusegun Obasanjo of Nigeria, and Thabo Mbeki of South Africa.
With the MAP emerging as the agreed African initiative for development, bringing together all partnership initiatives within a single framework, the participants are looking to create a mechanism that will provide financial, technical and analytical support to the MAP. It is envisioned that developed countries would invest the necessary resources through aid, debt relief and market access to give African economies the jump-start they need. In turn, Africa should be able to put in place the necessary political reforms to ensure that their economies take off.
The Algiers conference is being preceded by a meeting of experts on May 6 and 7.
In addition to the main discussion about MAP, the meeting features panel discussions on substantive related issues, including post-conflict reconstruction, building and sustaining partnerships and the HIV/AIDS pandemic. At the end of their meeting, the experts—drawn from governments, the United Nations system, and bilateral and multilateral institutions—will present recommendations for consideration by the ministers. – (Albawaba-MEBG)
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