TICAD II High Level Seminar on Africa's External Debt
(August 30-31, Kenya School of Monetary Studies)

August 30, 1999

  1. "TICAD II High Level Seminar on Africa's External Debt", an international conference for identifying a lasting solution to Africa's debt problem, is to be convened in Nairobi on August 30 and 31, 1999. Organised by the Government of Japan and others, and entitled "Searching for a lasting solution to Africa's debt problems: African perspectives", this conference is convened based upon the recognition shared at Second Tokyo International Conference on African Development (TICAD II), which was held in October 1998 in Japan, that sustainable solution to African debt problems require capacity building for debt following Prime Minister Obuchi's proposal to take initiative for such capacity building.

  2. This conference, which is held under the collaboration between the Government of Japan, IMF, World Bank and others, is to be attended by African ministers of finance and governors of central banks. The conference will be officially opened by H.E. President Moi of the Republic of Kenya, and chaired by H.E. President Mogae of the Republic of Botswana, Dr. Masaru Yoshitomi, Dean of Asian Development Bank Institute being the deputy chairman.

  3. The issues to be discussed include the depth and diversity of Africa's debt problems, effectiveness of past debt relief and aid, the Heavily Indebted Poor Countries (HIPC) initiative and social development, lessons of Asian crisis for Africa's emerging economies, and possible options for future debt relief and resource flows. The conference is expected to identify and help implement concrete and sustainable solutions to the continent's debt problem, while enhancing the capacity of African countries to pursue the path of sustainable development.


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