African Finance Officials Meet Ahead of June's G-20 Summit

Deputies of the Committee of Ten, which comprise African ministers of finance and central bank governors, met May 27 to discuss updates on key developments of activities supported by the G-20.

The committee’s informal meeting, held at the sidelines of the African Development Bank’s annual meeting in Abidjan, sought to build a strong and unified African voice in the run-up to the G-20 summits in Canada in June and in Korea in September.

African officials also tackled economic issues such as Africa’s exit strategies from “expansionary policies” during the meeting.

“The general recommendation is that, where feasible, exits should not be rushed, but be gradual and orderly,” Adbul Kamara, manager of AfDB’s research division, said in a press release. “Many countries may want to start with fiscal consolidation, which tends to be technically and politically difficult.”

The committee was set up by African finance ministers and central bank governors in November 2008 to assess the impact of the financial and economic crises on their economies.

About the author

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    Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.