FG Reaffirms Commitment To G24 Collaboration On Global Advocacy

By Cynthia Onuado

The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun said Nigeria wil continue to work the Intergovernmental Group of 24 (G24) member countries to strengthen collective advocacy.

Edun said this during the G24 meeting at the International Monetary Fund (IMF)/World Bank Group spring meetings in Washington on Tuesday.

He said that the G24 meeting on International Monetary Affairs and Development convened at a critical moment for the global economy, as emerging markets and developing economies continue to face multiple and overlapping shocks.

The minister listed the shocks to include geopolitical tensions, tighter financial conditions, and climate-related vulnerabilities.

He said that the G24 would work on advocacy issues central to the development agenda of emerging and developing economies.

“Today’s discussions focused on key priorities, including, strengthening global economic resilience in the face of persistent shocks.

“It also focused on enhancing the international financial architecture, including IMF quota and governance reforms, expanding access to adequate and predictable development financing.

“It addressed rising debt vulnerabilities and improving debt resolution frameworks, supporting job creation, inclusive growth, and long-term structural transformation,” he said.

He said that there was also the issue of reinforcing multilateral cooperation between the IMF, the World Bank Group, and other international partners.