2021 AEC: Reforms, debt initiatives come under the spotlight as Africa enters ‘critical’ phase

Participants at the 2021 African Economic Conference have urged countries to implement crucial governance and economic reforms to see the continent through a historic crisis brought on by the Covid-19 pandemic.
The conference brought together leading thinkers, development specialists and policymakers virtually and in Sal, Carbo Verde, to present their latest research on the challenges facing the continent, including mounting debt and an unrelenting health crisis.
“The next few years are critical for our continent…The richness that Africa has and the capacity it has doesn’t deserve to have people living in such poverty. We need to make the right decisions to fight extreme poverty,” said Cabo Verde Deputy Prime Minister, Olavo Correia, at the closing ceremony of the three-day hybrid event on Saturday.
Researchers at the conference identified three critical areas that need attention: human capital, institutions, and infrastructure, highlighting the critical role of the private sector role in each. Meanwhile, they shared their latest findings on the continent’s financial systems and called for reforms and greater capital market and monetary integration.