Putin Calls for IMF and World Bank Reforms to Strengthen Africa’s Role

Putin called for reform of the IMF and the World Bank to strengthen Africa’s role

There is an urgent need to reform the International Monetary Fund and the World Bank, and to refocus these organisations on the needs and requirements of developing economies.

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This was stated by Russian President Vladimir Putin at the plenary session of the Russia–Africa Economic and Humanitarian Forum, which is taking place on 28–29 October in Moscow.

As noted by RBC, the Russian leader also emphasised that Russia advocates strengthening Africa’s role in the governance of the IMF and the World Bank and in the adoption of key decisions within these organisations.

“Our country also consistently advocates for strengthening Africa’s role in the governance and decision-making of key issues within multilateral development institutions, first and foremost the International Monetary Fund and the World Bank,” RBC quotes Putin as saying.

The publication also notes that the day before, at the Gas Exporting Countries Forum summit on 27 October, Putin described Africa as “the continent of the future”, attributing this statement to its young population and Africans’ desire for education and a higher standard of living.

According to the organisers, representatives from 48 of the 54 African countries, including 22 heads of state, are taking part in the Russia–Africa Summit. It is planned that the meeting will conclude with the adoption of a final declaration, a declaration on cooperation in the field of artificial intelligence, and a partnership action plan for 2027–2029.

This story was translated with the assistance of artificial intelligence.The translation was also reviewed by the Logos Press editorial team.

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