African Development Bank Unveils Country Focus Reports to Boost Economic Growth and Structural Transformation
The African Development Bank Group has launched a series of Country Focus Reports, designed to deepen policy dialogue on the macroeconomic performance and outlook of individual countries. The reports aim to provide an indispensable tool for policymakers, governments, and development partners to make informed decisions.
The reports, which coincide with the 2024 African Economic Outlook report, “Driving Africa’s Transformation: The Reform of the Global Financial Architecture,” offer country-by-country insights and dynamics. The African Economic Outlook report, issued annually, provides timely evidence and analysis on the continent’s growth, empowering policymakers to make informed decisions.
The reports assess the experiences of individual countries in accessing finance necessary to fund their structural transformation and call for an overhaul of the global financial architecture to help turn around African economies. The reports also highlight the need for African countries to look inwards and strengthen domestic revenue mobilization through improved tax policies and efficient government revenue collection.
The reports make bold recommendations across five key areas, including leveraging private sector financing, ramping up climate finance, reforming multilateral development banks, reforming debt resolution mechanisms, and enhancing domestic resource mobilization.
According to Prof. Kevin Chika Urama, Chief Economist & Vice President for Economic Governance and Knowledge Management at the African Development Bank Group, the reports contain pragmatic policies to accelerate African countries’ economic growth and structural transformation.
The reports provide governments and potential investors with up-to-date, accurate data to inform policy and investment decisions. With the reports, African countries can better respond to their growing development financing needs, exacerbated by recurrent global and domestic shocks.
To learn more about the country reports or for information on a particular country, click here.
