UN convenes African economic summit to discuss how to avoid external shocks

The United Nations regional commission for Africa is holding a conference today in Addis Ababa, Ethiopia, to examine how to protect African economies from external shocks.

African Finance Ministers, development ministers from across the developed world, and the heads of the International Monetary Fund (IMF) and World Bank will participate at the fourth “Big Table” meeting, as it is known.

The focus of the one-day summit, convened by the UN Economic Commission for Africa (ECA), is on how Africa’s economies can avoid suffering badly from such external shocks as commodity price fluctuations or adverse weather. It will also investigate how the World Bank and IMF can more effectively work with African countries to alleviate poverty.

ECA launched the Big Table series of summits to promote frank discussions about Africa and its economies. Past sessions have addressed strengthening the continent’s voice in ongoing international efforts to confront the development challenge, Africa’s responsibility in achieving its development goals, and mutual accountability between African governments and donor nations.