Global economies are going through several difficult issues, ranging from the effects of COVID-19 to the disruption caused by the Russian-Ukrainian war. These questions will be at the heart of discussions at the 2022 Annual Meetings of the International Monetary Fund (IMF) and the World Bank.
Over the next week, policymakers, international organizations and the private sector – led by the Bretton Wood institutions – will take decisive and coordinated action to build resilience in the face of rising inflation, the food crisis and energy, to the war in Ukraine and to the worsening of poverty.
TheCable’s Aderemi Ojekunle is in Washington to provide updates on decisions made by global players and how those decisions will shape Nigeria’s economy.
Monday, October 10 — THE WAY FORWARD: DEALING WITH MULTIPLE CRISES IN A TIME OF VIOLATION
Kristalina Georgieva, Managing Director of the IMF and David Malpass, President of the World Bank Group, will lead a conversation on global challenges and how the two Bretton Wood institutions are working to help countries cope with multiple crises.
TUESDAY, OCTOBER 11 — WORLD ECONOMIC OUTLOOK
There will be a World Economic Outlook press conference which will highlight the IMF’s projections for Nigeria’s economy.
World leaders will also debate debt restructuring: why too little too late? As debt mounts globally, the discussion focuses on options for improving the functioning of debt restructuring mechanisms from a private sector perspective.
Godwin Emefiele will also join other Commonwealth central bankers for a meeting.
The finance and agriculture ministers of the G20 member countries will hold a press conference after their first joint meeting. The meeting will focus on how to tackle the problem of food insecurity.
Later today, the IMF will hold a briefing on the Global Financial Stability Report. The report provides an assessment of the global financial system and markets as well as emerging market finance in a global context.
WEDNESDAY OCTOBER 12 – FINANCIAL MONITORING
The IMF will release its Fiscal Monitor report, which focuses on fiscal policies as tools for mitigating climate change.
THURSDAY, OCTOBER 13 — ZAINAB AHMED JOINS IN THE DEBATE ON THE GLOBAL ECONOMY
Zainab Ahmed, Nigerian Minister of Finance, Budget and National Planning, will join Kristalina Georgieva, Managing Director of the IMF, David Malpass, President of the World Bank Group and Paschal Donohoe, Irish Minister of Finance and President of the Eurogroup, as session speakers.
Others include Mohamed A. El-Erian, president of Queens’ College, University of Cambridge, and Mark Carney, a Canadian economist and banker.
Richard Quest, CNN International Business Correspondent and Quest Means Business (QMB) anchor, will moderate the session.
Prior to the debate, IMF and World Bank leaders will hold separate press briefings on the global policy agenda for the 2022 Spring Meetings.
FRIDAY, OCTOBER 14 — REGIONAL ECONOMIC OUTLOOK UPDATE
Abebe Aemro Selassie, Director of the IMF’s African Department, will moderate discussions on the economic outlook for sub-Saharan Africa.
Later in the afternoon, there will be a discussion on Central Bank Digital Currencies (CBDCs) like Nigeria’s eNaira.
SATURDAY 15 OCTOBER – CAUCUS AND AFRICAN GOVERNORS MEETING
CBN Governor Godwin Emefiele is expected to join the meeting of governors of other African central banks with the Managing Director of the IMF.
SUNDAY OCTOBER 16 – EAST AFRICAN COMMUNITY (EAC)
East African nations will come together to deliberate on the outcome of the meetings and how it affects the region.