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African CAUCUS:Governors pledge to protect human capital in the face of Covid-19

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Le Premier ministre, Chef du gouvernement, Joseph Dion NGUTE a ouvert le 06 août 2020 à Yaoundé, au nom du Président de la République du Cameroun, les travaux de la réunion virtuelle des gouverneurs africains auprès du groupe de la Banque mondiale et du Fonds Monétaire International (Caucus Africain 2020).

This conference was opened by the Prime Minister Head of Government, His Excellency Chief Dr. Joseph Dion Ngute. In his opening speech, the PM said, ‘‘We will need to strengthen our protection and social security systems in favour of our populations and more particularly the most vulnerable. More than in the past, human capital must be at the heart of our development policies. I urge partners to provide their determining and decisive support in this regard.’’

The deliberation, held through a video conference had as theme,brought together, African Governors to the Bretton Woods Institutions, Senior officials of the International Monetary Fund (IMF) and the World Bank Group (WBG), as well as officials of the African Union Commission.

Their discussions centered on the World Bank and IMF’s Response and Recovery Strategy from the Coronavirus Pandemic with highlights on funding facilities and assistance given to some African countries. These Bretton Woods Institutions pledged their support to accompany African States in the Fight against COVID-19, through the conception and implementation of macro-economic frameworks to boost resilience and economic stability within the Continent. Eminent speakers included Hiroshi Matano, Chief Executive Officer MIGA; Sergio Pimenta, Vice president, International Finance Corporation, IFC; Hafez Ghanem, Vice President of Africa Region of WBG and his colleagues; and other speakers from the IMF.

The Governors and Executive Directors also deliberated on the draft 2020 African CAUCUS Memorandum in which they project committing and seeking support in five major areas; Enhancing External Assistance and Aid Effectiveness During the COVID-19 Pandemic, Scaling up Services Delivery: Health, Education, Water and Social Protection, Reinforcing Macro-Fiscal Policies and Governance, Strengthening Markets, the Private Sector and Jobs and Enhancing Africa’s Representation, Voice and Diversity in the IMF and WBG.

As a result of these discussions, a final Memorandum was adopted, to be submitted to the President of the World Bank Group, Mr David MALPASS and the Managing Director of the IMF, Ms. Kristalina GEORGIEVA during the Annual Assembly of these Institutions next October 2020.
Cameroon was next in line to host the AFRICAN CAUCUS after Ghana (2019), Egypt (2018) and Botswana (2017).