2024-07-13 09:09:54
Developed under the direction of PCNS Principal Researcher Larabi Jaïdi, this edition of the report brings together contributions from a host of researchers, development practitioners and key stakeholders to explore the complex challenges facing the continent as well as the opportunities that arise.
During a presentation of the report, experts discussed key findings and recommendations aimed at shaping sustainable economic strategies for the continent.
The general consensus among the speakers was the need for inclusive growth policies, regional cooperation and targeted investments to address socio-economic challenges and unleash Africa’s potential.
Thus, the Executive President of the PCNS, Karim El Aynaoui, highlighted the importance of promoting economic diversification and resilience, towards more prosperous economies across the African continent.
The report was designed to add value by answering critical questions about the identity and challenges of African economies, he said, adding that the diversity of publications in the report reflects the different perspectives and analyses needed for a deep and nuanced understanding of African economies.
“This report is dedicated to the theme of finance, which was also the theme of this year’s AES. Each year, the report addresses a central theme relevant to the understanding and analysis of African economies,” he noted, stressing the importance of sustainable development agendas and promoting partnerships that foster equitable economic growth and resilience across Africa.
For his part, Mr. Jaïdi, discussed the impact of regional integration on economic stability in Africa, as well as the potential benefits of deeper economic cooperation between African countries, and the importance of infrastructure development and trade facilitation initiatives.
This annual report provides an opportunity to take stock of the continent’s economic situation and address the major economic issues on the African Union’s agenda, while looking at issues such as macroeconomic stability, inflation and its impact on citizens’ purchasing power, exchange rate systems, and public finance management across African countries, Mr. Jaïdi said.
The report also covers the evolution of African regional economic communities, examines annual progress in economic integration and puts the progress of these communities into perspective.
“Each year, a central theme is chosen to analyze the different levels of evolution of African economies. This year, the theme of finance was chosen because of the major financial challenges facing the continent, including the impact of the international financial system, infrastructure needs, transformation towards a green economy and digital management,” he said.
And to continue that the report explores the mobilization of financial resources necessary to face these challenges, and questions the potential sources of financing, whether international or internal, on the role of the African banking system in the economic transformation of the continent, as well as on the question of the implication of new financial technologies, such as cryptocurrencies and central bank digital currencies.
These technologies can destabilize the continent while offering new opportunities for financial inclusion and savings collection, the researcher believes.
The report benefits from the contribution of more than 24 researchers, many of whom come from various regions of Africa, thus enriching the debate and enabling a truly African economic narrative for Africans.
The 2nd edition of the African Economic Symposium, themed “Fostering Africa’s Economic Transformation through Innovative Financing”, was held on 11-12 July. The meeting aimed to explore emerging challenges in macroeconomic management and to place particular emphasis on promoting economic transformation in Africa.
The speakers’ diverse perspectives highlighted the complexity of international finance while highlighting the transformative potential of investments aligned with Africa’s development priorities and guided by the principles of equity, transparency and sustainability.
2024-07-13 09:09:54