The COVID-19 pandemic has taken a significant toll on African economies, translating notably into growing fiscal and external imbalances and worsening growth and poverty outcomes. Due to limited policy space, many countries on the continent will be constrained in their ability to implement expansionary macroeconomic policies to stimulate post-crisis recovery. In order to bolster prospects for a stronger and sustainable economic recovery, African governments will therefore need to mobilize significant additional external financing.
Ahead of the Summit on Financing African Economies, the Center for Global Development (CGD) and the Fondation pour les Études et Recherches sur le Développement International (FERDI) are co-hosting a two-day panel discussion: the first on the mobilization of external financing to support strong, inclusive and sustained post-COVID19 economic recovery in Africa and, the second one on the challenges and opportunities associated with the allocation of concessional financing for the continent. The panels will feature government officials, policy makers and subject experts, who will have an open discussion on challenges and options for mobilizing external financing and allocating concessional finance to African countries, following a presentation on the topic.
Tuesday, March 16th
Participants discussed available financing options, while assessing their respective merits and limitations. They explored the role of African governments, bilateral and multilateral partners and the private sector in mobilizing further public and private external financing for Africa, moving beyond concepts and proposals to concrete actions over the next few months.
Wednesday, March 17th
Participants discussed how public financing, in particular concessional one, should be allocated among African countries, how their vulnerability can be taken into account and in this perspective they again explored the role of bilateral and multilateral partners.