IMF pledges to strengthen growth of Africa’s economy

THE Managing Director of International Monetary Fund (IMF), Ms. Christine Lagarde, has promised that her visit to African countries would strengthen and promote the growth of their economies.

Lagarde, who is on a four-day working visit to Nigeria and Cameroon, would engage with policy makers and other stakeholders in both countries and from the region to underline IMF’s strong relationship with its African member countries.

A statement distributed by an online media, African Press Organisation (APO) said the visit to Nigeria would provide an opportunity to strengthen IMF’s partnership with the largest economy in sub-Saharan Africa, adding that she will meet with President Muhammadu Buhari and other senior leaders, along with business leaders, prominent women, and representatives of civil society. She will also meet with legislators.

“I look forward to productive meetings with President Buhari and his colleagues as they address important economic challenges, most importantly the impact of low oil prices.

“Nigeria is working hard to improve its business environment, promote opportunities for growth in the private sector, and strengthen social cohesion, all areas where the government has an important role to play,” she said

In Cameroon, Ms. Lagarde will meet President Paul Biya and his economic team, as well as private sector executives, women leaders, and other members of Cameroonian society.

She will also meet with finance ministers from the six-member countries of the Economic and Monetary Community of Central Africa (CEMAC), delivering a speech to the group on January 8.

Lagarde said: “As the largest and most diversified economy in CEMAC, Cameroon is well placed to sustain and reinforce the momentum of integration.

“The country and the entire CEMAC region are confronted with the twin shocks of the oil price slump and a surge in disruptions related to security. Reinforcing regional integration and implementing ambitious reform agendas in CEMAC countries will be key to secure macroeconomic stability and restore strong and inclusive growth in the region.”