Economic Commission: 45 African ministers call for IMF reform

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African ministers have called on the IMF to strengthen its operational model, lending practices, and governance strategy, with the aim of “better addressing exogenous global shocks such as COVID, the war in Ukraine, and the ongoing climate crisis'.

At the 55th session of the Economic Commission for Africa . © UNECA.

First came Covid-19, followed by the war in Ukraine, and escalating climate emergency. Faced with economic challenges, African ministers of finance, planning and economic development are calling for decisive changes to the International Monetary Fund. Reform dominated the conversation at yet another spring meeting of the World Bank and International Monetary Fund in March. Representatives of 45 African ministries of finance, planning, and economic development met with African Union representatives, along with those from the AfDB, and Afreximbank for the 55th session of the Economic Commission for Africa .

 

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