The demands were contained in a communiqué issued after the group’s 116th ministerial meeting in Bangkok, Thailand, during the IMF and World Bank Annual Meetings. Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, chaired the meeting.
The group urged the IMF to reform its quota system to reflect changes in the global economy and strengthen the representation and voting power of emerging and developing countries. It also called for greater flexibility in lending programmes, arguing that economic adjustment measures should protect essential social spending and support investment.
On debt, the ministers warned that rising repayment obligations were limiting governments’ ability to fund infrastructure, healthcare, education and other development priorities. They advocated more predictable debt restructuring, transparent negotiations and better coordination among creditors.
The G-24 also urged the World Bank to expand affordable financing through guarantees, risk-sharing arrangements and mechanisms to attract private investment. It called for greater use of local-currency lending to reduce foreign-exchange risks.
On climate change, the group demanded delivery of the international commitment to mobilise at least $300 billion annually in climate finance by 2035, with developed countries taking the lead and increasing support for adaptation.
The ministers also called for stronger international action against tax avoidance, profit shifting and illicit financial flows that deprive developing countries of revenue.
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The Nigeria-chaired G-24 has called for reforms to the International Monetary Fund, faster debt restructuring and greater access to affordable development financing. The group also urged developed nations to help deliver at least $300 billion annually in climate finance by 2035. The Group of Twenty-Four (G-24), under Nigeria’s leadership, has called for comprehensive reforms of the International Monetary...
Key takeaways
- The Nigeria-chaired G-24 has called for reforms to the International Monetary Fund, faster debt restructuring and greater access to affordable development financing.
- The group also urged developed nations to help deliver at least $300 billion annually in climate finance by 2035.
- The Group of Twenty-Four (G-24), under Nigeria’s leadership, has called for comprehensive reforms of the International Monetary Fund (IMF), improved debt relief mechanisms and increased climate financing to support developing economies.The demands were contained in a communiqué issued after the group’s 116th ministerial meeting in Bangkok, Thailand, during the IMF and World Bank Annual Meetings.
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The Nigeria-chaired G-24 has called for reforms to the International Monetary Fund, faster debt restructuring and greater access to affordable development financing. The group also urged developed nations to help deliver at least $300 billion annually in climate finance by 2035. The Group of Twenty-Four (G-24), under Nigeria’s leadership, has called for comprehensive reforms of the International Monetary...
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Glow 99.1 FM published this story with GlowRy Atuah listed as author.
When was it published?
October 14, 2026
