IMF, World Bank Back Oyedele’s G-24 Leadership

The leadership of the International Monetary Fund (IMF) and the World Bank has commended Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, for his leadership of the Group of 24 (G-24).

The commendation came during the 2026 IMF and World Bank Group Annual Meetings in Bangkok, Thailand, where Oyedele chaired the G-24 Board of Governors meeting and led discussions on financing challenges confronting developing economies.

IMF Managing Director Kristalina Georgieva and World Bank Senior Managing Director Axel van Trotsenburg, representing World Bank President Ajay Banga, joined other G-24 governors in recognising his leadership.

The discussions focused on calls for a fairer global financial system, more affordable development financing and faster resolution of sovereign debt crises, as developing countries grapple with rising borrowing costs and mounting financial pressures.

Oyedele said high interest rates, fiscal pressures and growing financing needs were making it increasingly difficult for developing economies to fund infrastructure and other development priorities.

He called for reforms to the IMF quota and governance systems, stronger representation for developing countries within international financial institutions, improved access to development finance and more predictable approaches to debt restructuring.

The G-24 also emphasised the need for expanded climate financing and stronger international tax cooperation to address tax avoidance, profit shifting and illicit financial flows that reduce government revenue.

Georgieva, while addressing the wider economic outlook, warned that headline global growth projections masked growing disparities between economies benefiting from digital transformation and those constrained by high energy costs, conflict and limited access to technology.

Van Trotsenburg highlighted the World Bank Group’s crisis-response financing and its focus on electricity access, healthcare, digital connectivity and job creation.

Oyedele’s chairmanship has placed Nigeria at the centre of discussions by developing and emerging economies seeking a stronger voice in global economic decision-making.

The G-24 represents developing countries and emerging markets across Africa, Asia, and Latin America and the Caribbean, advocating for their interests in discussions involving the IMF and World Bank.