Nigeria : Le ministre des Finances met en garde les pays ouest-africains contre la dépendance aux financements extérieurs
He may have sounded the alarm. At the 11th Annual Conference of the West African Association of Public Accounts Committees (WAAPAC), held Monday in Abuja, Nigeria's Finance Minister, Wale Edun, warned countries in the subregion against relying on external financing.
“Developed countries are redirecting their resources towards domestic subsidies”
"The world is currently in the grip of global uncertainty. We are seeing a decline in global trade. Yet, it is global trade that allows countries to participate in the growth of the global economy. Trade wars and protectionist tariffs have deprived approximately $2 trillion of goods from the circulation. Developed countries are redirecting their resources toward domestic subsidies rather than international cooperation," the minister observed. In such a context, West African countries cannot rely on cheap multilateral loans to stimulate their growth, Wale Edun argues. He urges governments in the subregion to become more self-reliant. To achieve this, economies must be reformed, the minister asserts.
“Reforming our economies”
“We need to reform our economies. We need to increase our tax-to-GDP ratio. We need to apply technology, automation, digitalization, and even AI to our revenues and efforts. Finally, we need to mobilize the private sector,” Wale Edun said.
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