Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has called on the International Monetary Fund (IMF) and the World Bank to increase financial support for developing nations, citing mounting global economic pressures. Speaking on April 14, 2026, during the IMF/World Bank Spring Meetings in Washington, Edun made the appeal in his capacity as Chair of the G-24 group of developing countries, as reported by Reuters.
Edun emphasised the need for additional liquidity and risk management tools to help reduce borrowing costs for vulnerable economies facing external shocks. “We would like them to do more, particularly at this time, additional liquidity risk management tools that bring down the cost of financing,” he said, highlighting the growing strain on emerging markets.
He noted that net financial flows to developing countries have turned negative due to declining international aid and rising debt servicing costs. Tighter global financial conditions and increased risk aversion, driven in part by the ongoing Middle East conflict are also limiting private capital inflows into emerging economies, making multilateral support increasingly critical.
Edun’s remarks underscore broader concerns among developing nations about access to affordable financing amid global uncertainty. His call signals a push for reforms within international financial institutions, as countries seek more flexible, lower-cost funding solutions to sustain growth, manage debt burdens, and navigate an increasingly volatile global economic environment.
