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Speech Delivered by Dr. Akinwumi A. Adesina President, African Development Bank Group - Official Opening of the 3rd Finance in Common Summit October 19, 2022, Abidjan, Cote d’Ivoire

· Akinwumi Adesina, President of the African Development Bank Group (International)

Summary written by Dark Majestic in its own words · topics: monetary policy and interest rates, financial stability, public finances and debt, development and emerging economies

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· Akinwumi Adesina Wiki · African Development Bank Group WikiSpeech Delivered by Dr. Akinwumi A. Adesina President, African Development Bank Group - Official Opening of the 3rd Finance in Common Summit October 19, 2022, Abidjan, Cote d’Ivoire

ContextOpening speech at the third Finance in Common Summit in Abidjan; the African Development Bank finances Africa's development and works with other public development banks.

Why it mattersAdesina warns that global tightening drives capital out of emerging markets.

Problems raised
  1. Monetary tightening raises interest rates.
  2. Capital flees emerging markets.
  3. Debt service costs rise.
Solutions proposed
  1. Coordinate public development banks.
  2. Increase support for vulnerable countries.
  3. Reform the development finance system.
Read full speech on afdb.org ↗

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