Although the resurgence of conflict, terrorism and drought has diverted attention away from Africa’s longer term needs, a number of positive developments have taken place in recent months.
Speaking on Thursday at the opening of a two day meeting of Finance, Planning and Economic Development Experts, Economic Commission for Africa (ECA) Executive Secretary KY Amoako reported that Africa’s economy grew at a modest 3,1% in 2002 — a rate that was barely above the average rate of growth of Africa’s population, and which was low when compared to 4,3% in 2001.
The slow down was largely due to “the sluggish recovery of the global economy, decline in oil prices, drought conditions in certain parts of North, East and Southern Africa, and civil conflicts”. As a result, little progress was made in 2002 in reducing poverty in Africa.
Despite this sluggish growth, Amoako cited a number of positive developments since the last Conference of Ministers in Johannesburg in October 2002. These included progress in implementing the New Partnership for Africa’s Development (Nepad), particularly on the African Peer Review Mechanism (APRM), to which 12 countries have so far signed up; and commitments by Africa’s development partners to increase aid levels.
In his opening remarks, Lesetja Kganyago, chair of the Bureau of Experts and deputy director general in the National Treasury of South Africa, applauded the swift progress towards making the APRM operational, and welcomed the fact that more countries were preparing to sign up to be peer reviewed.
“This is particularly important,” said Kganyago, “because the APRM was not imposed from outside but is a mechanism we devised as Africans, as a mirror to reflect on ourselves and monitor our progress in meeting the development goals of the continent.”
Thursday’s committee of experts meeting precedes a June 1 Conference of African Ministers of Finance, Planning and Economic Development organised by the ECA on the theme ‘Towards greater policy coherence and mutual accountability for development effectiveness.’
The conference will discuss how the international development system can more effectively aid Africa’s battle against poverty.
In addition to the ministers, more than 500 participants — including central bank governors, leading academics and researchers, and international partners — are expected to attend.
In addition to reviewing and advising ECA’s programme of work, the experts will prepare the ministers for their discussion by addressing three topics:
Mutual Accountability, Policy Coherence and Development Effectiveness
Making the International Monetary Fund Work Better for Africa
The Macroeconomic Implications of HIV/Aids
The June 1 Conference is being held back-to-back with the Annual Meetings of the African Development Bank (ADB), at the United Nations Conference Centre in Addis Ababa. The two institutions will jointly sponsor the Annual Meetings Symposium, previously a hallmark of the ADB Annual Meetings, to be held on June 2. The ADB Annual Meetings will take place from June 3-5. – I-Net Bridge