Finance for development in Africa: an issues note for discussion at the conference of African Finance Ministers
Author(s)/Corporate Author (s)United Nations. Economic Commission for Africa;
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The aim of this Issues Note is to review the mix of actions necessary to finance the developmental goals of Africa and to present policy options for the consideration of African Finance Ministers. This Issues Note focuses on measures to increase domestic savings and channel it efficiently into productive investment, switch domestic resources from external debt service to development, increase the effectiveness of ODA, attract private capital flows, encourage foreign direct investment and stem capital flight. The main developmental goal of Africa is poverty alleviation. At the UN Millennium Summit, the world's leaders agreed that the incidence of poverty in Africa should be halved by 2015.