Press Release No. 07/177

Press Release: Statement by the African Governors to the IMF on their Informal Meeting with Mr. Dominique Strauss-Kahn

August 3, 2007

Mr. Manuel Chang, Minister of Finance for Mozambique and Chairman of the Caucus of African Governors to the International Monetary Fund (IMF) and the World Bank, today released the following statement on behalf of the African Caucus:

"The African Governors of the International Monetary Fund and the World Bank met on 30^th and 31^st of July 2007 in Maputo, Mozambique, in the context of their regular meetings, to reflect on issues relating to the two institutions and Africa. Mr. Dominique Strauss-Kahn, a candidate for the position of Managing Director of the IMF, took this opportunity to meet with African Governors and exchange with them views on the challenges facing the IMF and Africa in particular, including how to achieve sustainable high growth and poverty reduction and the role of the IMF in this process. They also discussed the IMF governance reform and the importance of Africa's participation in the decision-making process at all levels of the Fund.

"The African Governors appreciated Mr. Strauss-Kahn's frankness and openness in responding to the various issues raised. They welcomed his commitment to put Africa at the center stage of the reform process, to have regular consultations with them at the highest level, and to take into consideration their concerns should he be selected as Managing Director of the Fund. They wished him well in his candidature."