Statement By Claver Gatete United Nations Under-Secretary-General and Executive Secretary of the Economic Commission for Africa (ECA) : 56th Session of the Conference of Ministers of Finance, Planning and Economic Development

Abstract

This Statement delivered by Claver Gatete United Nations Under-Secretary-General and Executive Secretary of the Economic Commission for Africa (ECA) at the 56th Session of the Conference of Ministers of Finance, Planning and Economic Development. Gatete highlighted on his remarks that, the world is at an inflection point and countries are facing impossible policy choices with far reaching social and economic consequences. The fiscal issues we face today cannot be traced only to Covid-19 or recent conflicts. These recent shocks only exacerbated historic structural issues rooted in a global financial architecture that is not fit for today’s world. Simply put, the existing multilateral financial system does not represent the needs of Africa.