Caucus of Central Bank Governors : statement by Carlos Lopes UN Under-Secretary-General and Executive Secretary of ECA 29 March 2015

Abstract

Statement by Carlos Lopes UN Under-Secretary-General and Executive Secretary of ECA on the Caucus of Central Bank Governors. Africa’s financing has improved remarkably since the turn of this century. On the domestic front, both domestic savings and tax revenues increased significantly over the last decade. 4 Africa’s average tax-GDP ratio exceeded 27% in 2013. Both sovereign wealth funds and sovereign bond issuance have grown rapidly in Africa. The banking system expanded, with its liquid assets reaching 32 percent of GDP in 2012.