Financing Solutions for Africa
On April 16, SAIIA co-organised a closed roundtable discussion with the Brookings Institution, the African Centre for Economic Transformation and the Think 20 Africa network, focusing on “Financing Solutions for Africa.” The roundtable brought together key stakeholders, including representatives from the African Union Commission, the South African Treasury, and the Brazilian Finance Ministry. Discussions centered on African priorities for tackling debt, increasing development financing, and building momentum in various forums, such as the G20, to achieve meaningful progress over the next two years.
The discussions also covered shortcomings of the G20’s Common Framework for Debt Treatment such as the exclusion of middle-income countries and the need to differentiate between countries facing insolvency and those with illiquidity problems, the replenishment of the International Development Association in 2024 and the African Development Fund in 2025, domestic resource mobilisation strategies, and the international taxation system.
Multilateral Finance for Global Challenges
On April 19, SAIIA co-hosted another closed-door policy dialogue with Think Equal, the BRICS Policy Center, Research and Information Systems for Developing Countries (RIS), E3G, and the Global Development Policy Center. This discussion focused on “Multilateral Finance for Development and Global Challenges” with Brazilian coordinators of the G20’s International Financial Architecture and Sustainable Finance working groups. Key areas of focus included ensuring equitable access to climate funds and strengthening country-driven approaches.
Amplifying Africa’s Voices
SAIIA is also a proud partner of the Amplifying Africa’s Voices project led by the African Centre for Economic Transformation, alongside other African think tanks. The Spring Meetings presented an opportunity for us to take stock of the various initiatives under this project: sources of finance (IDA, SDRs, leveraging African finance institutions, climate finance and green investment); delivery mechanisms (IMF quota reform, the Common Framework and a Borrowers’ Club), and Fairer Voice (AU engagement at the G20 and the impact of slow reform on poverty and people’s lives).
SAIIA’s participation in these critical discussions at the Spring Meetings reflects its ongoing commitment to advancing African interests in the global financial architecture and promoting sustainable solutions for development challenges.