Africa-Press – Zambia. Bank of Zambia Danny Kalyalya noted that it is high time that Africa develops common solutions for its problems. Mr Kalyalya was speaking at the meeting which started on Monday and was attended by over 40 Finance representatives and three Central bank governors from AU member states.
And Countries in the African Union (AU) have agreed to devise common frameworks and mechanisms to address various economic challenges affecting the continent.
Chairperson for the Specialized Technical Committee (SCT)Finance Monetary Affairs Economic planning and integration Ken Ofori-Atta has since called for concerted efforts from all member states towards actualizing the economic recovery plan for the region.
Speaking during the closing ceremony of the 5th SCT in Lusaka yesterday, Mr Ofori Atta explained that as the continent moves towards achieving its agenda 2063, Financial integration is vital towards meeting the goal.
Mr.Ofori-Atta explained that effective debt management and economic recovery requires collaborative efforts and commitment from countries by putting in place uniform strategies aimed at addressing the problem.
He added that this is why it is important for the African Union to establish the Financial institution to deal with issues of finance and economic recovery, further calling for quick implementation of the obligations of the financial institution for the benefit of the region.
Mr. Ofori-Atta said this in a speech read on his behalf by Deputy Head International and Regional Economic Policy unit at the AU,Roymond Nazar. He further thanked the Zambian government for effectively hosting the AU mid year coordination meeting and the SCT meeting.
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