The Minister of Finance provides the most important Egyptian economic developments in the Spring meetings of the IMF and the WB

Kadrei in front of the10- committee: it is necessary to support the request of an additional seat for Africa at the IMF and The20- Group's board of directors

The Minister of Finance asserted that it is important for the10- committee– which comprises African countries – to outline a specific  strategic goals  adopted by the  African countries  in the coming period  to support  Africa's participation in the international forums,  in order to make Africa's participation more obvious while drawing the international policies to face the global economic challenges .

The Minister asked the committee to adopt and follow up the required executive steps for Africa representation within The 20- Group, besides giving Africa an additional seat at the IMF's board of directors, conditioned that it does not affect any emerging or developing countries .

The above mentioned was during the ministerial  meeting of the 10- committee of African countries that was held last Thursday within the margin of  Spring meetings of the IMF and WB in Washington .

It has been emphasized on Egypt's  proposals  within the final statement issued after the committee meeting .

The Minister pointed out that the meeting discussed also the developments of the global economy and their potential impacts on the African countries , whereas the discussions shows receding the growth average  rate in Africa during the last year reaching to 3.7% against 6.8% in 2012 as a result of the international financial conditions which restricted the growth rate in the continent , in addition to the lack of demand  in many emerging markets .

He also added that the African development bank estimates,  indicate to raising  the growth rate to 4.8% during the current year , reaching to 5.8% during 2015 , due to the expected local demand raise in Africa , besides increasing  the foreign investment  flows to the continent's countries .

The participating ministers explained the importance of adopting a prudent policies to restore  financial and economic growth in Africa.

On the other hand, the African union commission revealed the main features of the study prepared by the commission  concerning Africa in 2068, recommended by the last summit of the African union  , to depend on in preparing a strategic view for the African countries development procedures during the next 50 years.