IMF Africa chief calls for rethink of continent’s economic future at AKDN forum

International Monetary Fund (IMF) African department director Abebe Aemro Selassie, has urged policymakers to rethink Africa’s macroeconomic trajectory in the face of evolving global challenges.

 Selassie addressed participants drawn from government, academia, development partners and the private sector during the Aga Khan Development Network (AKDN) Speaker Series on Tuesday.

 He shared insights on “Rethinking Africa’s Macroeconomic Future,” drawing from nearly a decade of overseeing IMF engagement across 45 sub-Saharan African countries.

He highlighted the continent’s resilience but stressed the urgency of recalibrating policy approaches to unlock sustainable growth.

 Selassie noted that while Africa has made strides in economic reform and stability, external shocks, debt vulnerabilities and climate pressures continue to test progress.

 He pointed to the need for stronger institutions, sound fiscal management and innovative financing models to support long-term development.

 At the same time, he underscored opportunities in digital transformation, intra-African trade  and a youthful population as key drivers that could shape the continent’s next phase of growth.

 Selassie also called for closer collaboration between governments and the private sector, arguing that inclusive partnerships would be critical in addressing structural bottlenecks and accelerating economic transformation.

 In his opening remarks, Amin Mawji, Diplomatic Representative of the AKDN, said Africa stands at a pivotal moment defined by opportunity and global relevance.

 “Africa today stands at a critical intersection of opportunity, innovation and global relevance,” Mawji said, noting that platforms such as the Speaker Series are essential in fostering meaningful dialogue on the continent’s future.

 He added that the initiative seeks to create space for thought-provoking discussions and practical solutions to pressing challenges facing communities in Kenya and beyond.

 “The series aims to provide a space for ideas, networks and solutions. We want to create the opportunity for conversations on current topics facing our communities in Kenya and the world at large,” Mawji said.

 The AKDN Speaker Series continues to convene leaders and experts to exchange ideas aimed at shaping policy and development outcomes, reflecting a growing emphasis on collaboration in navigating Africa’s evolving economic landscape.