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HomeEthiopian NewsAU leaders eyeing for the establishment of African Monetary Fund 

AU leaders eyeing for the establishment of African Monetary Fund 

African Monetary Fund 
African leaders who are attending the 37th AU summit (Photo: AU)

Borkena 

Toronto – The 37th Ordinary Session of the Assembly of the Heads of State and Government of the African Union started on Saturday in the Ethiopian capital Addis Ababa. It is expected to conclude on Sunday. 

The  AU Commission Chairperson, Ethiopian Prime Minister Abiy Ahmed, Secretary General of the League of Arab States (Ahmed Aboul Gheit) , UN Secretary General (Antonio Guterres), Mahmoud Abbas (President of the State of Palestine),  President of Brazil ( Lula da Silva) and the Chairperson of the AU were among the leaders who made speeches during the opening ceremony. 

The AU has announced that the theme of this year’s leaders’ summit is  “Educate and Skill Africa for the 21st Century – Building resilient education systems for increased access to inclusive, lifelong, quality, and relevant learning in Africa” 

Another remarkable development is that the AU is saying that there is a commitment to speed up the move in the direction of establishing continental financial institutions. How it was initiated and whether there are other actors behind it – among others – are questions that merit research and analysis. 

What is known at this point is that the AU stated  “The African Union Heads of State and Government are committed to accelerate the establishment of an African Monetary Union by harmonizing monetary zones and creating three African Union financial institutions: the African Central Bank (ACB), the African Monetary Fund (AMF), the African Investment Bank (AIB). and creation of a Pan-African Stock Exchange (PASE).” 

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3 COMMENTS

  1. Subject: AU leaders eyeing for the establishment of African Monetary Fund ”
    February 17, 2024

    Humble Opinion, 17 Feb 2024
    ha). We shall see the effectiveness of the last paragraph of the subject matter .

    hu) Question: Is our dear Africa known for being serious in ANY of its intentions?????

    hi) Let us be honest. Has there ever been, in the history of independent Black
    Africa, where promises and intentions eve succeeded in our dear Black Africa?

    haa). Humble Question: What makes our dear Black Africa different now than it
    was for time immemorial????????

    hie). In any case, we shall see what, where and when the modern, educated, Ethiopians, with the top most Doctor of Philosophy Degrees, from the top most universities around the Globe will do for the benefit of Ethiopians.

    hii). We shall see.

    ho). REALITY — glaring as it is — can never, never, never be deceived.

    —————– THE. END ———————–

  2. Excellent idea. It is apparent and inevitable that Africa has shown growth economically and technology is noticeably seeping in. It is the youngest continent and literacy at all time high. Urbanization is growing and at its current pace those who live in urban areas will be equal or even outnumber those who live in rural communities soon, in few decades. The work to harness and endow such growth should start now and it is not too late. At the same time it should do everything it can to resolve and avoid conflicts among itself.

    This claim by Brother President Hassan Sheikh Mohamud ‘Ethiopia attempted to block him from entering the African Union where the leaders’ summit is underway’ is left with a loose end. ‘Attempted’ how? But what the president did/behaved at the reception occasion after his arrival was not diplomatic to put it mildly. No, no, that was not presidential at all.

    But this accusation has added more firepower for these bigots among our Somali brothers and sisters communities who have been calling for massacres of innocent Ethiopian refugees in Somalia. This is not the first time innocent refugees were targeted and massacred in that country and at the hands of armed groups from that nation. During the 1977-78 war with Ethiopia that was the worst period for young people who fled Mengistu’s carnage. They escaped Mengistu’s dragnet and sought protection in ONLF held areas. I was told by my Issa friends that one day those refugees were rounded up by ONLF(Ogaden National Liberation Front) commanders and used for training and target practice by their newly recruited militia. That was the main reason why our Issa brothers and sisters kicked murderous ONLF and Somalia’s regular army soldiers out of their areas along the old railway line. Even older refugees were not spared. First they killed refugees who professed Christianity but later on it was every Ethiopian refugee other than Somalis. I am calling on the Western Powers and all UN agencies to put extra pressure on the Somali government and remind them that refugees are protected under international laws. This bigots here in the Diaspora and there in Somalia are calling for the massacre of every refugee from Ethiopia. They are making it part of their sermons at the places of worship. There are reports of killings and beatings already.

    • He who eats your leftivers, knows your weakness.

      Ittu you used to live as begger among the somalis in 60’s 70 ‘s and 80’s and you became expert of saying against them, flavouring your comnents with your few Somali words*( Afwayne, Afmiinshaar, Somaliwayn….and so on) that you memirized from your listening radio mogadishu, or propably Hargaysa,

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