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March 12, 2024
Rising debt vulnerabilities in many African countries following repeated external and domestic shocks require to rethink fiscal policy in the region. Under unchanged policies, the region’s public debt-to-GDP ratio will continue to trend upward, increasing by over 10 percentage points over the next five years, crowding out private investment, raising sovereign risk, and limiting countries’ ability to invest in human and physical capital and to respond to future shocks. The design of credible medium-term fiscal strategies could help preserve fiscal sustainability and rebuild buffers while addressing the region’s development goals.
This year’s Forum will discuss how to set fiscal targets and determine the pace and composition of the potential adjustment depending on countries’ specific circumstances. The discussion will also explore the role of institutions in addressing implementation challenges and how those institutions can be strengthened.
**Watch a livestream of the event on this page.**
9:00–9:10am
Opening Remarks
Vítor Gaspar, Director of the Fiscal Affairs Department, IMF
9:10–10:30am
High-Level Roundtable
Moderator: Abebe Aemro Selassie, Director of the African Department, IMF
Panelists:
Vera Daves de Sousa, Minister of Finance, Angola
Koen Doens, Director General for International Partnerships, European Commission
Njuguna Ndung’u, Minister of Finance, Kenya
Fati N’Zi-Hassane, Executive Director, Oxfam in Africa
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