The head of state of Côte d’Ivoire recalled that the agency “46 countries in sub-Saharan Africa are represented by only two chairpersons of the board of directors”.
Ivorian President Alassane Ouattara (Monday, May 10) called on the International Monetary Fund (IMF) to strengthen the representation of African countries in institutions and increase the flexibility of their budget deficits.
The leader who has held various positions in the IMF recalled that when the Bretton Woods system was established in 1945, Egypt, Ethiopia and South Africa were the first African countries to become members.
“Until the 1990s, all African countries sent representatives to participate in the conference.”On the occasion of the 60th anniversary of the establishment of the African Department under the leadership of Mr. Ouattara from 1984 to 1988, he met with Kristalina Georgieva, Managing Director of the International Monetary Fund. Have a virtual conversation.
“However, in 46 countries in sub-Saharan Africa, the IMF board of directors has only two chairs, and the voting power is 7.09%.”, He sighed. “This observation shows that there is still much work to be done to increase the representativeness of the African continent in the IMF.”, He emphasized.According to him, the quota revision must be “An important item on the agenda of African countries”.
The President of Côte d’Ivoire also emphasized the need to maintain flexibility in terms of budget deficits. “Undoubtedly, the sustainability of public debt and the robustness of the macroeconomic framework are imperatives.”.