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15th Bank of Italy – Ministry of Foreign Affairs and International Cooperation Annual Conference

The 15th Bank of Italy – Ministry of Foreign Affairs and International Cooperation (MAECI) annual conference, held today at Palazzo Koch in Rome, was opened with speeches by the Secretary to the Governing Board of the Bank of Italy, Gian Luca Trequattrini, speaking on behalf of Governor Fabio Panetta, and by the Secretary General of the Italian Ministry of Foreign Affairs and International Cooperation, Ambassador Riccardo Guariglia, speaking on behalf of Minister Antonio Tajani.

During the Conference, organised in two sessions, the new framework of global geopolitical fragmentation was analysed. In particular, the following topics were discussed:

– the implications of fragmentation for the global economy and for international cooperation. In particular, the economic costs of fragmentation – resulting from the lower exchange of goods, services, ideas and people among economies – and the negative consequences on the international community’s ability to counter major global challenges, such as climate change and pandemic risks, in a more divided world were analysed;

– the economic, social and political challenges for Africa, and Italy’s and Europe’s relationship with the continent. Africa has a young population and an economy that, while lagging behind, has considerable potential. It has emerged as a key player in the supply of crucial resources and has long been a battleground for new global players. For this reason, it has become a priority for Italy, starting with the agenda of the G7 Presidency, which assigns a central role to the issues of development and economic and political relations with Africa at all levels.