Participants will exchange views and lessons on challenges related to Africa’s debt vulnerabilities.
Speaking on Nigeria’s debt profile, Mr Urama, the AfDB’s chief economist, said public debt itself was not inherently problematic.
Mr Urama said Africa’s currencies, including the naira, had depreciated sharply against the U.S. dollar, creating economic instability.
The United Nations Development Programme says global uncertainty over wars can lead to diminished investments critical for Africa’s growth.
The experts spoke during a panel discussion at the ongoing AEC 2024 in Gaborone, Botswana.
The summit sought a wheat transformation for sustainable food security and economic growth in the West and Central Africa Region.
Due to climate change, AfDB says Africa loses between $7 billion and $15 billion annually.
The president of the African Development Bank (AfDB), Akinwumi Adesina, says there is great potential and opportunity in Africa.
Ms Sewasew, however, said debt challenges and vulnerabilities persisted, especially in most transition countries on the continent.
Africa needs to close a financing gap of about $402.2 billion annually by 2030 to fast-track its structural transformation.
