Cameroonian President Paul Biya to Attend Global Financial Compact Summit in Paris
Cameroonian President Paul Biya is set to travel to Paris, France, this Wednesday to participate in the summit of the “New Global Financial Compact.” The summit, organized by French President Emmanuel Macron, will take place on June 22 and 23 in the French capital. This will be President Biya’s first visit to France since 2019.
Several members of President Biya’s official delegation have already arrived in Paris ahead of the summit. They include Minister of Finance Louis Paul Motaze, Minister of Economy, Planning and Regional Development Alamine Ousmane Mey, Director of the Civil Cabinet Samuel Mvondo Ayolo, Minister of Public Works Emmanuel Nganou Djoumessi, and Minister of External Relations Lejeune Mbella Mbella.
Over a hundred heads of state and government from around the world will participate in the summit. The program includes six round tables and around fifty parallel events, where various themes will be discussed. These themes include developing the model of multilateral development banks, partnerships for green growth, debt and allocation of special drawing rights, and innovative instruments and financing in the face of new vulnerability challenges.
Many African heads of state, such as Macky Sall of Senegal, Denis Sassou Nguesso of Congo, Mahamat Idriss Deby Itno of Chad, Nana Akufo Addo of Ghana, and Abdel Fattah Al-Sissi of Egypt, will be among the speakers at the round tables.
However, President Biya is not scheduled to speak at any of the panels. His absence raises questions about Cameroon’s representation and influence in shaping the new global financial balance advocated by President Macron.
President Macron emphasized the importance of reaching a consensus on fighting poverty, decarbonizing the economy, achieving carbon neutrality by 2050, and protecting biodiversity. He called for joint efforts to address these challenges in developing countries, including reforms in institutions such as the World Bank and the IMF, as well as public and private funds.
The summit aims to establish a new consensus and pave the way for a new process in addressing global financial challenges.
How can collaborative efforts between developing countries and financial institutions like the World Bank and IMF effectively address challenges such as poverty, decarbonization, and biodiversity protection
Cameroonian President Paul Biya is scheduled to attend the summit of the “New Global Financial Compact” in Paris, France. The summit, organized by French President Emmanuel Macron, will take place on June 22 and 23. This will be President Biya’s first visit to France since 2019.
President Biya will be accompanied by several members of his official delegation, including Minister of Finance Louis Paul Motaze, Minister of Economy, Planning and Regional Development Alamine Ousmane Mey, Director of the Civil Cabinet Samuel Mvondo Ayolo, Minister of Public Works Emmanuel Nganou Djoumessi, and Minister of External Relations Lejeune Mbella Mbella.
The summit will gather over a hundred heads of state and government from around the world. The agenda includes six round tables and around fifty parallel events, covering various themes such as the development of multilateral development banks, partnerships for green growth, debt and special drawing rights allocation, and innovative financing in the face of new vulnerability challenges.
While many African heads of state will be speaking at the round tables, President Biya is not scheduled to speak, which has raised questions about Cameroon’s representation and influence in shaping the new global financial balance advocated by President Macron.
President Macron has highlighted the importance of achieving consensus on fighting poverty, decarbonizing the economy, carbon neutrality by 2050, and protecting biodiversity. He has called for collaborative efforts to address these challenges in developing countries by implementing reforms in institutions like the World Bank and the IMF, as well as utilizing public and private funds.
Overall, the summit aims to establish a new consensus and pave the way for a new process in addressing global financial challenges.
“Paul Biya’s visit to Paris for the world summit on finance reflects his commitment towards fostering global economic cooperation and finding ways to strengthen Cameroon’s financial systems. Such international engagements are crucial for leaders to address shared challenges and explore opportunities for sustainable development.”
It is crucial for Paul Biya to participate in the World Summit on Finance in Paris, as it offers a great opportunity to exchange ideas and collaborate on key financial issues affecting both Cameroon and the global community. This allows for valuable insights and potential solutions that can strengthen economic growth and stability for all.