The African Center for Economic Transformation (ACET) will host International Monetary Fund (IMF) African Department Director Abebe Aemro Selassie at a webinar on Tuesday, July 7 to discuss policy actions for Africa’s economic rebound in the aftermath of the COVID-19 pandemic.
The Zoom event, “Priorities for Africa’s Recovery, Growth, and Transformation”, will focus on pressing questions that governments must answer in crafting policy responses that meet immediate needs without compromising long-term development goals.
What actions will have the most impact for the most people? How are those actions implemented effectively? How can the IMF and other development partners best support governments?
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In addition to Mr. Selassie, panelists will include Dr. K.Y. Amoako, ACET President and Founder; Ms. Mavis Adu-Gyamfi, incoming ACET Executive Vice President; and Prof. Benno Ndulu, former governor of the Bank of Tanzania.
The pandemic has exacted a heavy toll on global economies, with Africa hit especially hard. According to the World Bank, the African continent is expected to experience its first recession in 25 years. A United Nations report predicted a billion people globally could be pushed into poverty, with Africa’s fight against poverty set back by as much as 30 years.
“The impact of COVID-19 cannot be understated,” said Dr. Amoako. “African countries must focus on implementing policies that will spur economic recovery and growth in their countries in the short, medium, and long terms.”
ACET recently published a list of 10 policy priorities that, if implemented in the local context, will help countries recover lost gains but also help ensure the broader economic transformation agenda stays on track.