African Governors Commit to Developing Human Capabilities and Skills | General news

The African governors of the International Monetary Fund (IMF) and the World Bank Group (WBG) are committed to building human capacity and skills development to accelerate job creation and economic transformation.

Commitments were made in the Accra Declaration, a communiqué adopted and issued after the Africa Caucus meeting in 2019 held in Accra from July 31 to August 2 on the theme: "L & # 39; Africa Beyond Aid: Strengthening Institutional Capacities and Innovative Financing for Sustainable Growth ".

Mr. Ken Ofori-Atta, Chair of the African Caucus of the IMF and WBG, informed the media that governors have committed to increasing spending on education to help achieve the Sustainable Development Goals (SDGs) , especially Objective 4 relating to the investment. in the early years and secondary education.

The governors, however, called on the two Bretton Woods institutions to strengthen their support for capacity building of national and regional institutions, to help them obtain international accreditation and to establish recognition of qualifications and skills on the continent.

The President urged the World Bank Group to strengthen its support for African centers of excellence while accelerating the implementation of the African Human Capital Plan and the Digital Economy for Africa.

Governors also committed to continue working with international financial institutions and regional organizations to strengthen macroeconomic and fiscal frameworks and build capacity at all levels to support development, taking into account the importance of strengthen institutional capacity and reforms of public financial management.

Governors are committed to improving governance, transparency and accountability to ensure the wise use of public funds and in partnership with the Bretton Woods institutions and other partners to strengthen institutional management capacity. and evaluation of public investments as well as debt management.

In dealing with illicit financial flows, the governors pledged to strengthen regulations to simplify transnational settlements in order to prevent the illicit outflow of funds and to collaborate and harmonize legal frameworks in order to to reduce these flows.

Governors committed to working with international development institutions to develop a database of beneficial owners and IFFs, making this a policy goal to discourage flows of funds to developed countries and streamline the flow of funds. repatriation of these funds to the countries of origin.

Conscious of the need to strengthen the financial capacity of the WBG to fulfill its development mandate in all Member States, the Governors have committed themselves to working closely with the WBG leadership to ensure that the WBG is able to fulfill its mandate. to ensure that African countries subscribe to the actions badigned to them in the framework of the International Bank for Reconstruction 2018 and development capital within the given deadlines.

Governors urged the World Bank Group to finalize the International Finance Corporation's 2018 cash flow to enable the mobilization of private finance for growth and poverty reduction in an inclusive manner, taking into account the central role private sector development.

Governors called for a strong replenishment of IDA19 resources in light of the International Development Association's (IDA) contribution to African governments' development efforts and poverty reduction, as well as the urgency required to achieve the SDGs.