EXCERPT: Edun and Cardoso are championing initiatives to ease debt burdens and foster financial integration across Africa.
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, and the Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, on Saturday mobilised their counterparts from the African Union (AU) to work towards the establishment of the African Monetary Institute (AMI) as well as the operationalisation of the African Financing Stability Mechanism (AFSM) – two key initiatives they believed have the potential to cure the continent from existing debt and payment system challenges.
The proposed AFSM framework seeks to provide debt refinancing loans at…
