The African Development Bank President, Dr Akinwumi Adesina, has pledged his institution’s full support to the United Nations Secretary General’s Early Warning for All initiative and the Systematic Observations’ Financing Facility. The Bank is the implementing entity for the Facility...
Beneficiary of an offset project, Everin Moyo with her grandchildren, in their new home on the Zambian border with Malawi
AIF Senior Director Chinelo Anohu (center) with Hilda Al-Hinai, Secretary General of the Arab Swiss Chamber of Commerce (left), and Habiba Al Marash, Co-founder and Chair of Emirates Environmental Group. Anohu led a roundtable for investors in Geneva, Switzerland
The African Development Bank President, Dr Akinwumi Adesina, has said the global financial architecture constrains Africa’s development. He recommends five ways it can be made fairer.
Your Excellencies,
The global financial architecture is constraining Africa’s development in five ways.
First, it is not delivering the scale of resources needed to allow Africa to achieve its growth and development priorities. Africa faces a financing gap of $1.2 trillion through 2030 to finance its SDGs.
IMF Staff and the Malawian Authorities Reach Staff-Level Agreement on the Second Review of the Staff Monitored Program with Executive Board Involvement and an Extended Credit Facility Arrangement
Ecuador’s financial system is dominated by banks and credit cooperatives. While dollarization provides an important anchor for the Ecuadorean economy, systemic liquidity risks are high due to the limited capacity of the central bank to provide liquidity. The financial sector is overall resilient to adverse macrofinancial shocks but some institutions have meaningful solvency and liquidity vulnerabilities. To preserve confidence it is key to enhance capitalization, promptly recognize loan losses, and address unviable institutions.
Working Paper No. 2023/198
