By Emeka Anaeto, Business Editor

The 80th anniversary of the original conference that established the post-war global financial system which birthed the World Bank Group, has ended with the Governor of Central Bank of Nigeria, CBN, Olayemi Cardoso, and a select group of other African fiscal and monetary policy executives canvassing for Africa’s interests on the global financial stage.

At the conference the Bretton Woods institutions face calls for reform in the face of global challenges, and Cardoso’s role in the landmark forum ensured that African perspectives were strongly represented.

The involvement of the CBN boss was particularly crucial as developing economies, especially in Africa, seek greater participation and representation in the governance and decision-making processes of global financial institutions.

A statement from the apex bank said Cardoso’s selection reflects his leadership in central banking and his experience as the former head of Citibank Nigeria and Commissioner for Economic Planning and Budget in Lagos State. His expertise and background in policymaking were invaluable in advocating for solutions that address the unique financial challenges faced by African nations in advancing financial inclusion, driving economic reforms, and building resilient financial systems.

The Bretton Woods at 80 Forum concluded with key recommendations for the future role of the IMF and World Bank in addressing global challenges. Governor Cardoso’s contributions were central to ensuring that these institutions remain responsive to the diverse needs of regions around the world, as they work towards more inclusive and sustainable global financial systems that address the economic priorities of both emerging and advanced economies.

The exclusive gathering included former executives of major global institutions and key figures shaping the future of markets, climate action, and social development, who came together to tackle the most pressing challenges in the global economy.

The group engaged in deep-dive sessions critically examining real-world successes and challenges for the IMF and World Bank, brainstorming and developing actionable strategies, and focusing on how these institutions can evolve to tackle pressing issues like sustainable development, financial inclusion, and climate resilience to ensure they are equipped to meet the demands of today and the future.