Sal hosts Africa Caucus 2023 to promote Cape Verde at the Nations concert

The island of Sal will host, from the 6th to the 8th of this month, the Africa Caucus 2023, a meeting of finance ministers and African central bank governors, together with the International Monetary Fund (IMF) and the World Bank Group (GBM).

Established in 1963, the Caucus, which takes place every 50 years, has as its main objective to provide the African governors of the GBM and the IMF with a mechanism for coordinating and harmonizing their actions, in order to safeguard the interests of the member countries with the institutions of the Bretton Woods.

At a press conference to present the event, which took place today in the city of Praia, the Minister of Finance, Olavo Correia, said that it will be a moment of promotion for Cape Verde and excellence for the African continent.

"For Cape Verde to host this event, which takes place every 50 to 50 years, is a huge opportunity for the country (...) and for Africa, which needs to have a common voice in the concert of Nations", noted the official, pointing out that if it is facing a “profound” change in world geopolitics and geoeconomics.

In this sense, Olavo Correia argued that an in-depth debate without prejudice is needed to be able to build this common vision and approach, to be defended in international forums, where the African continent participates.
“Having the African continent and all the international finance is for us a moment of high notoriety for our Nation. It means having the African continent and all the international finance and more particularly on the island of Sal”, stressed Olavo Correia, pointing out that Cape Verde wants to be a relevant country in the Concert of Nations, as an archipelago.

On the other hand, he informed that this meeting, to take place in the city of Santa Maria, will be attended by all African countries and many international guests, among which the United States of America and the United Kingdom stand out, in the person of African Development Minister.

“We already have 323 registered, including ministers and governors, of around 66 nationalities, for this meeting that precedes the annual meeting of the World Bank and the IMF, which this year will take place from October 6th to 15th in Marrakech, in the Kingdom of Morocco, where the conclusions of the Africa Caucus 2023 will be presented”, he added.

The Africa Caucus 2023 is hosted and chaired by Cape Verde, in the person of the Deputy Prime Minister, Minister of Finance and Business Development and Minister of Digital Economy of Cape Verde, Olavo Correia.

The choice of Cape Verde was decided at a technical meeting of the IMF and the World Bank for the preparation of the African Constituency Meeting (Preparation of the African Caucus), on the sidelines of the Spring Meetings held last May.