Press Release No. 08/239

Press Release: Africa's Economic Success, Role of Partners to be Showcased in Conference by United Republic of Tanzania and IMF

October 9, 2008

For the first time in decades, Africa is seeing sustained rates of economic growth and rising income levels. Increasing levels of foreign and domestic investment, strengthened support from development partners, and sound economic policies are bearing fruit. The global financial turmoil and the food and fuel price shock pose serious challenges. But the continent's long-term growth outlook remains positive, holding out the prospect of making decisive headway in reducing poverty. This changing landscape has prompted President Jakaya Kikwete of Tanzania and IMF Managing Director Dominique Strauss-Kahn to convene a major international conference in March 2009 to discuss how Africa can sustain and build on its recent economic success.

The high-level international conference, which will be held on March 10-11, 2009 in Dar es Salaam, Tanzania, will be built around the theme "Changes: Successful Partnerships for Africa's Growth Challenge." It will assemble senior policymakers and stakeholders to learn from successful economic reforms in Africa, to examine responses to its changing challenges, and to elaborate the evolving roles of private sector and official partners—particularly the IMF—in supporting African countries.

Mr. Strauss-Kahn said: "President Kikwete and I agree that the conference should address key policy questions, with the common goal of forging a renewed partnership for growth in Africa in the 21^st century: strong and broad-based growth is critical for Africa to achieve its over-riding economic objectives of raising living standards and reaching the Millennium Development Goals (MDGs). The successes in achieving growth in the region have to be maintained, accelerated and extended to all countries."

The conference will bring together over 300 high-level participants, combining finance ministers and central bankers from all over Africa with representatives of partner countries the world over, both global and regional private sectors, civil society, media, academics, and private foundations. Prominent speakers will include President Kikwete and Mr. Strauss-Kahn.