Presentation on international experiences of Financial Mechanisms for Development

The second part of Wednesday 24th April was dedicated to the presentation of the matter of international experience in Financial Mechanisms for Development. First to speak was the Representative of the International Monetary Fund in Equatorial Guinea.

During his speech, he stressed that the private sector needs deep structural reform, and also the importance of increasing the capacity of the banking sector to lend money through the strengthening of its balances.

Other aspects mentioned were reforms to improve the business climate, the regime of law, transparency, governance, reliability and positivity.

He also spoke about the pillars of the programme with the IMF to strengthen sustainable inclusive economic growth, and highlighted the focus of a single Government, in which all ministries must share a single vision and cooperate between one another, and reflect on innovative ways to reap rewards from existing investment. In addition, he restated the importance of dialogue with the private sector and to ensure that the conditions for the oil sector are competitive in relation to other countries.

Furthermore, he indicated the resources to undertake large-scale projects, such as those implemented in the last ten years. In addition, he recalled that, besides the oil sector, there is little foreign investment in our country.

Other interventions came from experts from the World bank, the AFDB, the BDEAC and AFRIXIMBANK.

Source: Equatorial Guinea Press and Information Office

You May Also Like