The 2020 African Caucus Meeting of the Governors of the World Bank Group (WBG) and the Intemational Monetary Fund (IMF) holds in a virtual format this August 6, 2020.
Some 250 delegates from Africa as well as the International Monetary Fund (IMF) and World Bank Group will be meeting in Yaounde, Cameroon today August 6, 2020 to set the vision and ambition for Africa to build and strengthen resilience to future shocks as the region recovers from the Covid-19 pandemic. This is within the framework of the 2020 African Caucus Meeting of the Governors of the World Bank Group (WBG) and the Intemational Monetary Fund (IMF) to hold in a virtual format.
According to a press release from the Minister of the Economy, Planning and Regional Development, Alamine Ousmane Mey, who doubles as the Chair of the 2020 African Caucus, the Yaounde meeting is holding under the theme, "Protecting Africa's Human Capital in the Face of Covid- 19: Saving Lives, Preserving Well-being and Safeguarding Productivity and Jobs." Governors will also discuss the 2020 African Caucus Memorandum to be submitted to the Heads of the Bretton Woods Institutions in October 2020 during the IMF/WBG Annual Meetings.
Delegates to today's meeting will focus discussions around four topics notably: Aid effectiveness during the pandemic; scaling up service delivery in health, education, water, social protection and the digital economy; macro-fiscal policies and governance; and markets, the private sector and jobs.
According to Minister Alamine Ousmane Mey, "Hosting the African Caucus Meeting on Covid-L9 cements African governments' commitments to implement programmes on the crisis and prevention both effectively and efficiently, so that they can ensure a comprehensive recovery from the pandemic." He adds that the Yaounde conclave is equally "an opportunity for Cameroon to share its experience and learn from other countries on best practices for management and prevention."
Established in 1963 as the "African Group," the African Caucus was set up with the objective of strengthening the voice of African Governors in the two Bretton Woods Institutions on
development issues of interest to Africa. Membership is open to all African countries that are members of the International Monetary Fund and World Bank Group.
The Minister's press release notes that currently, all 54 countries on the African continent are members of the caucus. The countries are represented by their respective governors at these institutions, commonly referred to as the African Governors. They are usually Ministers of the Economy, Planning, Finance or Central Bank Governors. The views and concerns of African Governors are conveyed annually to the Heads of the IMF and World Bank Group through a Memorandum at the Annual Meetings of these two institutions.