Major reforms are particularly necessary in those countries that have experienced a loss of competitiveness in the past or that are suffering from high fiscal and external deficits. The removal of labour market rigidities would further support the adjustment process of these economies.
This is an appropriate time for deepening the conversations on how the diaspora can contribute to economic growth and progress especially in Africa where significant opportunities exist, and significant resources will be required to put our citizens on the path of shared prosperity. A UNDP report indicated that by 2050, more than half of Africa's population will be under 25.