New African Initiative

• Pages: 317

Page 317

The New African Initiative focuses on putting in place the preconditions for promoting investment, growth, and reduced poverty in Africa through a regional coordinated effort. In a September 11 meeting with IMF Institute Deputy Director Saleh Nsouli, President Abdoulaye Wade of Senegal detailed the ongoing work on the initiative.Wade explained that the initiative recognizes the importance of peace, democracy, and good governance and seeks to develop regional infrastructure, enhance human capital formation through education, and improve health care. It also focuses on accelerating growth in the agricultural sector, which is the mainstay of many African economies.

The initiative envisions a key role for the private sector and seeks to promote regional...