Council of Ministers 67th Ordinary Session of the Organization of African Unity: statement by K.Y. Amoako UN Under-Secretary Gender and Executive Secretary of the Economic Commission for Africa

Abstract

Statement by K.Y. Amoako UN Under-Secretary Gender and Executive Secretary of the Economic Commission for Africa at the Council of Ministers 67th Ordinary Session of the Organization of African Unity. Dr. Amoako, on his remarks highlighted that, Africa’s economic performance since 1994 is a significant improvement over the situation of the 1980s and early 1990s when growth slowed down to a trickle, social indicators declined, capital flight rates were the highest for any region, trade was less open than any region and macro-economic policies were often distorted. Regional economic and social integration, are a critical first step in the process of learning to operate globally. Strong macroeconomic policies must be pursued to prevent serious imbalances in the inter-linked Balance of Payments, Government Budget, Monetary System and the National Income.