Thursday, December 1, 2022
HomeNewsAfricaIMF’s limitations diminishing Africa’s development potential, says EGAAD CEO

IMF’s limitations diminishing Africa’s development potential, says EGAAD CEO

The IMF’s facilities come with a set of limitations that may inhibit African nations from achieving their aspired sustainable development. To that point, the Egyptian African Arab Consortium for Development (EGAAD) is looking to offer alternative routes, says CEO Reda Boulos.

“The IMF has different rules to maintain the risk of default in a structured way. Nevertheless, the urgency and the actual need to execute solid infrastructure projects in Africa needs huge investment that cannot be realised today with limitations the IMF imposes,” he tells The Africa Report.

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