CBN Governor Olayemi Cardoso Champions Africa’s Interests at Bretton Woods at 80 Forum

Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, engaged with the International Monetary Fund (IMF) and World Bank to develop actionable strategies aimed at fostering inclusive growth, sustainable development, financial inclusion, and climate resilience across Africa.

Cardoso participated in the high-level Bretton Woods at 80 Forum, where he represented Africa’s interests on the global stage. During the event, he emphasized the need for strategies that would prepare the continent to address both current and future challenges.

The forum, organized by the IMF and World Bank Group, brought together a select group of global leaders at Bretton Woods, New Hampshire, to commemorate the 80th anniversary of the original conference that established the post-World War II global financial system.

Cardoso’s participation underscored Nigeria’s and Africa’s growing influence in international economic discussions, according to a statement from the central bank. The forum addressed critical issues such as investment, inclusive growth, climate resilience, and the evolving role of multilateral financial institutions in a rapidly changing global economy.

The event provided a vital platform for reshaping the international financial architecture to better serve the needs of emerging markets and developing economies. It gathered former executives of major global institutions and key figures in markets, climate action, and social development to tackle pressing challenges in the global economy.

Cardoso’s invitation to this exclusive gathering reflected his leadership in central banking and his prior experience as head of Citibank Nigeria and Commissioner for Economic Planning and Budget in Lagos State. The central bank noted that his expertise in policymaking was crucial in advocating solutions tailored to the unique financial challenges faced by African nations, particularly in advancing financial inclusion, driving economic reforms, and building resilient financial systems.

As the Bretton Woods institutions face increasing calls for reform to address global challenges, Cardoso ensured that African perspectives were strongly represented. His participation was critical, particularly as developing economies in Africa seek greater inclusion and representation in the governance and decision-making processes of global financial institutions.

The forum concluded with key recommendations for the future role of the IMF and World Bank in addressing global challenges. Cardoso’s contributions were pivotal in ensuring that these institutions remain responsive to the diverse needs of regions worldwide as they work toward more inclusive and sustainable global financial systems that address the economic priorities of both emerging and advanced economies.

In particular, Cardoso made a compelling case for Africa’s active role in reshaping global financial structures. The event, which commemorated the historic Bretton Woods conference, reflected on past successes while recalibrating the global financial system to meet today’s interconnected challenges.

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