Commemoration of the 50th Anniversary of the OECD On African Public Debt Management

Hillary Rodham Clinton
Secretary of State
Paris, France
May 25, 2011

Now let me invite South African Minister Gordhan to join the Secretary General here for this important signing, a memorandum of understanding which represents the type of collaboration needed to help developing countries find a path to prosperity. South Africa and the OECD have committed to working together in partnership. There are a lot of very challenging issues that are facing our African partners, and here we have an important step with this signing. This officially begins the only dedicated policy forum where African debt managers and other African officials can meet directly with their counterparts from the OECD.

In Midrand, South Africa, these officials will come together to develop financial markets and establish new sources of financing for growth in Africa. Leaders from all corners of the continent will be able to craft new solutions to the ongoing challenge of public debt, because after all, developing strong government bond markets and sound institutions to manage public debt is essential to helping alleviate this burden on African countries. The better the management of public debt, the better developing countries will be able to grow.

So if I could invite the Secretary General and the South African minister to sign, and then we would welcome South African Minister Gordhan to make a statement.

PRN: 2011/T47-09