Opening Statement by his excellency Ato Meles Zenawi, Prime minister of the federal democratic republic of Ethiopia: the sixth session of the conference of African minister

Abstract

Opening statement by H.E. Excellency Ato Meles Zenawi prime minister of the Federal Democratic Republic of Ethiopia at the sixth session of the conference of African Ministers of Finance. H. E. Ato Meles, on his remarks highlighted that, The African continent is experiencing a wave of political and economic reforms unprecedented in its history. Many countries have embarked on democratic, socio-economic, political, and market reforms, and we are beginning to see the benefits. The contribution of efficient and effective financial systems to socioeconomic growth and development cannot be underestimated. We can expand financial infrastructure to serve not only the urban areas, but the rural areas as well. The challenges facing African countries in developing capital markets are many and multi-dimensional. The recognition that Africa's debt crisis persists, in spite of the application of traditional debt relief mechanisms, has led the international community to revisit the subject and re-examine existing debt relief mechanisms.