From 27-28 August in Luanda, the Republic of Angola will host the Meeting of the Ministers of Finance and Governors of the Central African Banks, the African Caucus, with the aim of strengthening the voice of the continent’s representatives on important issues relating to the socio-economic development of the Bretton Woods Institutions (BWIs).

The African Caucus Meeting is meant to seek a common ground among the continental financial institutions on relevant matters in their relation with Bretton Woods institutions.

The meeting is an opportunity for African financial institutions to put forward, in a concerted and organised way, the most relevant problems affecting the economies of the continent, particularly concerning the construction of infrastructure and industrialisation of the productive processes.

The meeting being held at the Talatona Convention Centre is an important opportunity for the African leaders, represented by their Ministers of Finance and Planning and Governors of the Central Banks, to jointly present in a coordinated and organised way the major and current concerns affecting the economies of the African continent, namely the building of infrastructure and industrialisation of production processes.

The subjects that stand out on the agenda in the six panels are the General Vision of the Regional Economy, Economic Transformation and Diversification, Discussion on the 2015 African Caucus Memorandum and the Financing of Regional Projects connected to infrastructure.

Personalities like the Ex-President of South Africa, Thabo Mbeki, and other individuals connected to the New Partnership for Africa’s Development (NEPAD), the World Bank (WB) and the African Development Bank (AFDB) have been invited to speak on the topics above.

Hosting the African Caucus in Angola will provide an opportunity for the country to strengthen its relationship with the international financial institutions like the International Monetary Fund, the World Bank and the African Development Bank, and thus seek to marshal aids required for its development.

According to a Finance Ministry’s press release that reached Angop on Wednesday, the event will also contribute to a better visibility of Angola and new opportunities for the diversification of its economy.

Angola was formally appointed to chair the African Caucus Group in 2015, during a meeting held in Khartoum, Sudan, from 3-4 September 2014.

Founded in 1963 as the African Group of Governors of the World Bank Group and the IMF, the Caucus aims to strengthen the voice of the Governors of the African Continent on important issues relating to the socio-economic development of the African Region, within the Bretton Woods Institutions (World Bank and International Monetary Fund).