Thirty-fourth session of the Commission/ Twenty-fifth meeting of the Conference of Ministers/Ninth Meeting of the Conference of African Ministers of Finance: Opening statement by K. Y. Amoako executive secretary of the economic commission for Africa

Abstract

Opening Statement by K. Y. Amoako Executive Secretary of the Economic Commission for Africa at the Thirty-fourth session of the Commission/ Twenty-fifth meeting of the Conference of Ministers/Ninth Meeting of the Conference of African Ministers of Finance. Mr. Amoako, on his remarks highlighted that, African economies averaged growth rates of 4 percent per year - well above the growth rate of 0.5 percent in the first half of the decade. Africa needs a pro-poor development agenda, that transforms the fruits of economic growth into tangible improvements in the quality of life of its people. An Africa with accelerating development, matched by a reformed aid process is desirable, but we cannot expect aid partnerships to last forever. The recent Abuja Summit recommended a substantial increase in the proportion of national budgets devoted to health issues. Even if large domestic budget allocations are instituted, in most countries there still will be serious finance shortfalls to cope with HIV/AIDS.