Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has held key discussion with IMF Managing Director, Kristalina Georgieva at the IMF Annual Meetings in Washington DC to discuss Nigeria’s economic growth prospects and other critical matters.
A statement from the ministry said the meeting focused on Nigeria’s economic growth prospects, the critical need to enhance social protection systems, and reviewed the significant progress achieved under President Bola Ahmed Tinubu’s ambitious reform agenda.
Edun will advocate for global backing of Nigeria’s economic reforms at the 2024 Annual Meetings of the World Bank and the International Monetary Fund (IMF).
The high-profile meetings will be held in Washington, D.C. from October 21 to October 26, 2024, with key ministerial events taking place between October 22 and 25.
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Leading Nigeria’s delegation, Edun will be at the forefront of discussions on strengthening Nigeria’s economic resilience, particularly amid the nation’s ongoing structural reforms.
He is expected to make a case for increased international support to ensure the success of these domestic initiatives, emphasizing that access to adequate and affordable financing is critical to maximizing the benefits of the country’s economic adjustments.
Also, the Finance Minister will spearhead efforts by the African caucus, pushing for a unified strategy to bolster Africa’s resilience against the complex challenges that confront the continent. This includes calls for enhanced financial support and policy alignment from global partners.
Edun is also scheduled to headline a flagship event, Women Transforming the World, hosted by World Bank President Ajay Banga. The event will spotlight the transformative role women play in global development, showcasing initiatives aimed at fostering gender equality and economic empowerment.
On the sidelines of the meetings, the Central Bank of Nigeria (CBN) will hold a session titled Strengthening Ties with Nigerians Abroad: A Conversation with Yemi Cardoso, Governor, CBN.
This event is aimed at highlighting the CBN’s recent reforms and exploring ways in which the Nigerian diaspora can play a role, particularly in efforts to increase remittance inflows, which are vital to Nigeria’s foreign exchange reserves.
The IMF will also feature a series of analytical discussions, including “The Clock is Ticking: Meeting Sub-Saharan Africa’s Urgent Job Creation Challenge” and “Harnessing Renewables in Sub-Saharan Africa: Barriers to Reforms and Economic Prospects.”
These sessions will provide critical insights into how African nations can tackle pressing economic and social challenges while charting paths to sustainable growth.
The Nigerian delegation’s participation in these high-level discussions underscores the country’s commitment to securing global support for its ongoing economic reforms, which are seen as essential to fostering inclusive growth and long-term stability.