The Intergovernmental Group of Twenty-Four (G24) on International Monetary Affairs and Development has restated the commitment of its member-countries to prioritizing efforts to strengthen economic collaboration and resilience amid current global shocks.
The group expressed this position on Tuesday at its meeting held in Washington D.C on the sidelines of the ongoing 2026 International Monetary Fund (IMF) and World Bank Spring Meetings.
According to a statement it issued on the discussions and decisions taken during the parley, the G24 confirmed that the meeting was held at a critical time when emerging markets and developing economies continued to contend with sundry and overlapping shocks, including geopolitical tensions, tighter financial conditions, and climate-related vulnerabilities.
Speaking after the meeting, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who presided over the meeting on behalf of Nigeria, which is the Chair of the G24, explained that Nigeria had been closely working with the G24 member-countries to champion advocacy on issues considered by the member-countries as crucial to sustainable development of emerging and developing economies.
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According to him, issues that formed the priority discussions at the meeting include the need to strengthen global economic resilience in the face of persistent shocks, enhance the international financial architecture, including IMF quota and governance reforms, and improved access to adequate and predictable development financing.
Edun maintained that at the meeting, Nigeria reaffirmed its commitment to fostering consensus, amplifying the voice of developing countries, and advancing a fair, inclusive, and effective global financial system that supports sustainable development for all.
Similarly, the G24 representatives harped on the need to address rising debt vulnerabilities and improve debt resolution frameworks, job creation, inclusive growth, and long-term structural transformation as well as reinforcing multilateral cooperation between the IMF and World Bank Group, and other international partners.
During the meeting, members reviewed recent global economic developments and exchanged views on coordinated policy responses that could better support vulnerable economies.
Earlier, the G24 Deputies had met and engaged in preparatory discussions, and their inputs were reflected in the issue notes and draft communiqué presented to the G24 members.
