Nigeria moves to canvass for Economic Support at IMF/World Bank Meetings

Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, is leading the charge for enhanced global support for the country’s economic reform initiatives at the ongoing 2024 Annual Meetings of the International Monetary Fund (IMF) and World Bank.
The director of Information and Public Relations Muhammed Manga in a statement indicated that the meetings, which will run until October 26, brought together global leaders to tackle pressing challenges such as climate change, pandemics, and economic distress.
According to the statement, Edun will also headline a significant event titled “Women Transforming the World,” organized under the auspices of World Bank President Ajay Banga.
This event aims to highlight the critical role of women in driving economic change and development.

In addition to his advocacy efforts, Mr. Edun will chair discussions within the African caucus, where he will canvass for a unified approach to bolster the continent’s resilience amid ongoing crises.
He emphasized the need for domestic policy reforms to be matched with access to affordable financing for optimal outcomes.
The statent explained further that the Central Bank of Nigeria (CBN), led by Governor Yemi Cardoso, will also play a key role, hosting a session titled “Strengthening Ties with Nigerians Abroad.”
“The initiative will focus on promoting reforms aimed at attracting more remittances from the Nigerian diaspora, a vital source of foreign exchange for the country.

“Key discussions at the IMF’s analytical sessions will center on job creation challenges in Sub-Saharan Africa, the impact of governance reforms on economic growth, and the hurdles facing renewable energy initiatives.
“The IMF is expected to release its World Economic Outlook and Global Financial Stability Reports, providing insights into the global economic landscape.
As nations confront interconnected challenges, the meetings underscored the urgency for collaborative solutions and strengthened partnerships to foster resilience and sustainable development worldwide.