- African Caucus amplifies African leaders’ voices at Bretton Woods institutions.
- Wale Edun, Nigerian Finance Minister, discusses Africa’s economic recovery with IMF.
The African Caucus, formed in 1963, amplifies the voices of African central bank governors and finance ministers at Bretton Woods institutions. Nigeria’s Wale Edun, its current Chairman, met with the International Monetary Fund (IMF) Managing Director to discuss Africa’s economic recovery.
During the recent Spring Meetings in Washington, DC, Edun, Nigeria’s Finance Minister, talked with Kristalina Georgieva, the IMF’s Managing Director. They focused on fostering economic sovereignty across Africa’s 54 nations.
Georgieva expressed optimism about Africa’s economic trajectory, citing improved global financial conditions. She highlighted a resurgence in private investment and consumption and noted the reintegration of some African countries into international capital markets.
Edun stressed collaborative financing strategies among African ministerial counterparts and central bank governors. They aim to address impediments to ongoing economic recovery, including climate shocks.
Georgieva emphasised the impact of severe droughts and floods on food insecurity and poverty across Africa. The dialogue aimed to tackle obstacles hindering Africa’s growth, estimated at 3.5% in 2024 and 4% in 2025 by Bretton Woods institutions.
Edun’s message underscored the urgency of innovative financing to navigate the current economic transition.