CAIRO - 13 October 2022: Minister of Finance, Mohamed Maait, stressed the need to create a flexible mechanism for the exchange of basic commodities between the countries of the African continent, especially wheat and fertilizers, in a way that helps in maximizing the capabilities of African economies. This came during his meeting with his African counterparts, in the presence of the International Monetary Fund and the United Nations Economic Commission for Africa, on the sidelines of his participation in the IMF and World Bank meetings in Washington. “Expanding the volume of intra-regional trade and improving the competitiveness of the economies of the continent’s countries will ensure their cohesion and resilience in the face of various crises,” Maait said. “Emerging economies and developing countries are the most affected by the war in Europe, and its repercussions are very complex,” said the Finance Minister. "This requires exchanging ideas, visions and experiences to reach flexible solutions to diversify sources of financing, and attract more investments to advance production and achieve economic and development goals in African countries,” he noted.

Source: Egypt Today October 13, 2022 22:02 UTC