BY JOHNMARK UKOKO
The Africa Development Institute (ADI), an affiliate of the African Development Bank (AfDB) group and its partners have demonstrated commitment to Africa’s economic recovery post-COVID-19 pandemic with focus on effective ways of managing public finances.
To this end, the AfDI and its partners recently hosted the eighth Global Community of practice policy dialogue on managing public finances in times of crisis in Africa.
This was contained in a statement made available to The Trumpet, which disclosed that no fewer than 500 delegates from 58 countries, representing global institutions, governments, research bodies and think-tank participated.
Also, representatives of several think tanks and universities in Africa, former ministers of finance, former and current central bank governors, heads of academic institutions, the private sector and civil society participated.
In his opening remarks at the meeting, the Bank Group’s Senior Vice President, Bajabulule Swazi Tshabalala, warned that the continent would not achieve the 2030 global sustainable development goals (SDGs) without affordable financing and prudent public finance management systems.
Tshabalala lauded the partners for working together to convene the dialogue on such an important subject.
“There is an urgent need for better-focused policy support for African countries structured within a framework that is incorporated for both crisis management and post- COVID-19 pandemic resilience and green recovery,” he said.
In his welcome remarks, Acting Chief Economist and Vice President for Economic Governance and Knowledge Management at the African Development Bank Group, Prof. Kevin Chika Urama, canvassed urgent action to improve public financial management system in Africa, based on lessons learned from COVID-19 crisis.
“It has no doubt deepened the need for enhance mobilisation and Prudential management of scarce public finances to deliver development impacts,” Urama said.
The seminar was followed by an inaugural three-day executive training programme for representatives of government agencies, ministries and central banks on the continent.
The training focused on key policy tools for managing public finances in times of crisis, and introductory courses on the key pillars of the public financial management cycle.