African Union: High-level Meeting of Committee of Fifteen Ministers of Finance Kicks off in Rabat

The high-level meeting of the Committee of Fifteen Ministers of Finance of the African Union (F15) opened Monday in Rabat on the theme “Beyond COVID-19 pandemic and Russia-Ukraine Conflict: Enhancing the Resilience of African Economies and Financial Sustainability of the African Union”.

The participants in this event, co-organized by the ministry of Economy and Finance and the African Union (AU), will discuss several issues, including the post-Covid 19 period, the Ukrainian crisis, economy recovery and the F15 performance.

Addressing the opening session, Minister of Economy and Finance, Nadia Fettah, underlined the need to rethink the financing model of the African Union.

“Rethinking the financing model of our Union is urgently needed if we want to stay focused on the objective that we have set out since 2015 in Johannesburg, for sustainable, predictable, equitable and responsible funding of the African Union,” she said.

Beyond its direct impact on African economies, the current crisis, due to its unparalleled scale and unpredictable duration, “could call into question the financial viability of our large institutional family, the African Union”, she pointed out.

The meeting is marked by the participation of the F15 members, the AU Commissioner for Economic Development, Trade, Industry and Mining, as well as the representatives of the AU Commission and of the Collaborative Africa Budget Reform Initiative.