Northern Africa Financial Sector Policy Dialogue
Accelerating Financial Sector Development and Integration in North Africa.
As part of their series of regional financial sector policy dialogue and stakeholders’ consultation workshop in Africa, Making Finance Work for Africa (MFW4A) and the African Development Bank (AfDB) are organizing the fourth financial sector dialogue which will take place in Tunis, Tunisia from the 27th to the 28th of January 2019. Following the Western, Central and Southern, and Eastern regions, this fourth edition will focus on Northern Africa.
In line with the previous dialogues, the objective of this event is to bring together major financial sector players of the region such as finance ministers, central banks governors, representatives of local institutions and development finance institutions, around the following subjects:
- Take stock of the current state of current reforms in the financial sectors of North Africa;
- Identify priority areas and actions, including innovative financial instruments, where Development Finance Institutions (DFIs) can reinforce their contribution to financing the real economy;
- Promote the inclusion of these initiatives in the strategies of the AfDB, domestic financial institutions, as well as regional and international development institutions.
The North African region consists of six (6) countries, including Morocco, Algeria, Tunisia, Libya, Egypt and Mauritania. Five countries in the region, except Egypt, are members of the Arab Maghreb Union (AMU), aiming to promote medium- and long-term economic integration through free circulation of goods, services and human capital.
This organization was created in 1989, but the progress in terms of economic and financial integration in the region are weak, compared to organizations such as WAEMU and ECOWAS in the West African region, or CEMAC and EAC respectively in Central and Eastern Africa. Structural efforts remain to be made in terms of integration, and the financial sector appears as a solution for better integration in North Africa.