IMF to hold conference on managing Africa’s natural resources

The International Monetary Fund (IMF) will be organizing a conference on how countries in sub-Saharan Africa (SSA) can manage their natural resources to boost their economies.

The conference will be held in Kinshasa, DR Congo from March 21-22, 2012.

In many SSA countries, extractive industries—oil, forestry, mining—account for a significant share of output and a major share of export earnings.

Rising commodity prices have further boosted economic growth and exports in many countries.

More than 25% of SSA countries get over 25% of their export proceeds from natural resources, according to Roger Nord, Deputy Director at the IMF’s African Department.

The IMF says the conference is to present the latest analysis and thinking on the macroeconomic management of natural resource revenue, and elaborate on how the policy dialogue with SSA countries has evolved.

It will also cover tax policy, administration, and regulatory frameworks conducive to good management of natural resources, according to the Fund.

By Ekow Quandzie

IMF on Natural Resources Management in Sub-Saharan Africa