Finance Ministers are mobilizing for increased domestic resources and money laundering.
The finance ministers, the presidents of the regional institutions and the governors of the central banks and the Franc Zone met on Monday, October 8, under the presidency of Mr. Bruno Le Maire, Minister of Economy and Finance of the Republic French at Bercy in Paris.
In an economic context marked by the resumption of growth across the African continent, ministers reiterated their desire to implement sustainable economic policies focused on strengthening the domestic resource mobilization (target of 20% of GDP ) and diversification in order to limit the risks of external economic and financial dependence.
The meeting underscored the need to continue implementing measures to strengthen regional integration, a factor of resilience and solidarity among the States of the Zone in the face of negative exogenous shocks in a particularly uncertain international economic environment. In this regard, they reiterate the importance of continuing to implement the regular monitoring of the recommendations adopted at the meetings of the Franc Zone Ministers.
Finance Ministers stressed the need to concretely implement the structural reform plans agreed in the programs with the IMF, AfDB, World Bank and EU in order to maintain the confidence of the partners, improve the macroeconomic situation and return to the path of inclusive and sustainable growth.
The meeting adopted a clear plan of action and a timetable drawn from a report produced by GIABA and GABAC with support from the World Bank. An update on the progress of the implementation of these measures will be made during the next meetings.
Directors representing France and French-speaking African countries at the World Bank and the IMF discussed the upcoming annual meetings of the IMF and the World Bank, which will be held from 12 to 14 October 2018 in Bali, Indonesia.
The participants thanked the French authorities for organizing this meeting of the Franc Zone, as well as for the welcome given to the delegations. They accepted the invitation of the Niger authorities to hold the next meeting of the Franc Zone Ministers in Niamey.