FM Taye, ECA chief discuss strategic collaboration in innovation, macroeconomic dev’t

Addis Ababa, June 21, 2024 (FBC) – The Minister of Foreign Affairs of Ethiopia Ambassador Taye Atske-Sellasie held a discussion with the UN Under-Secretary-General and Executive Secretary of the UN Economic Commission for Africa (ECA), Claver Gatete.

Their discussion focused on strengthening collaboration between Ethiopia and ECA in strategic areas of importance defined by Prime Minister Abiy Ahmed, such as innovation, statistical data, social development and macroeconomic development.

On the occasion, Glaver Gatete noted that ahead of the opening of ‘Africa Hall in October 2024, the government of Ethiopia and ECA will collaborate on marketing and linking this iconic masterpiece to other strategic sites of historical, research and touristic importance – Africa Hall -An iconic spot to tell Africa’s story.

With Ethiopia’s leadership in the Financing for Development (FFD) agenda, the two dignitaries agreed on the importance of Africa’s finance ministers in the FFD2025 preparations for meaningful financial traction and voice, ahead of the Summit of the Future, to be held in September 2024 under an overarching theme “Multilateral Solutions for a Better Tomorrow”.

Their discussion also stressed the imperative for Africa’s strong voice heard on Global Financial Architecture (GFA) reform.

The ECA Executive Secretary noted that high indebtedness is a bombshell on development, Sustainable Development Goals (SDGs) and AU Agenda 2063 and the global economy. Concessional lending is not enough.

Gatete underlined, “Credit rating is impacting on affordable financing and investment grading. Failure to reform the GFA is not an option.”