Africa: Finance Ministers to Discuss Turning Continent into the New Growth Pole of the World
By NewsfromAfrica
ADDIS ABABA---African Finance Ministers will be meeting in Addis Ababa, Ethiopia later this month to discuss the actions needed to turn Africa into a New Growth Pole for the global economy.
The meeting is taking place in the context of the Joint Annual Meetings of the African Union Conference of Ministers of Economy and Finance and the ECA Conference of African Ministers of Finance, Planning and Economic Development.
The meeting will take place at the new African Union Conference Centre in Addis Ababa, Ethiopia from 22 – 27 March 2012. The Ministerial session will take place from 26 to 27 March 2012 and will be preceded by a technical preparatory meeting of the Committee of Experts to be held from 22 to 24 March 2012 in the same location.
The ministers will also discuss other priority development issues relevant to the theme of the Conference such as a study on the likely state of African economies by the year 2050; the current crisis afflicting the eurozone economies and their likely impact on Africa; and ideas for an international post-2015 development agenda as the millennium development goals come to an end.
Three high-level panels will be organized around these subthemes to provide an opportunity for conference participants to share their experiences and perspectives and explore policy options for addressing the issues. A high-level panel of eminent personalities, senior government leaders and distinguished experts from regional and international organizations, including the United Nations system and the World Bank will lead the discussions.
The Ministers are expected to adopt an action plan which will provide a basis for concerted action at the national and regional levels to ensure that in the medium term, African countries develop sufficient growth and innovation to drive the rebalancing of global economies.
Research and innovation will be crucial if Africa is to achieve its potential. In recognition of this, the first Africa Innovation Prize will be awarded during the conference. This annual prize honours and encourages innovative achievements that contribute toward developing new products, increasing efficiency or saving cost in Africa. The first price for the winner and runners up, worth $100,000 and $50,000 respectively, will be awarded on 26th March this year.