Time for Change: Cardoso Tells World Bank, IMF to Get in Tune with Member Countries’ Needs

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has called on the World Bank and the International Monetary Fund (IMF) to adopt a more nuanced and flexible approach to addressing the diverse economic needs of member countries across different regions.

Mr. Cardoso made this statement while participating in the high-level *Bretton Woods at 80* Forum, representing Africa’s interests on the global financial stage. The event, held at the historic Bretton Woods in New Hampshire, United States, was organized by the IMF and World Bank Group to commemorate the 80th anniversary of the original Bretton Woods Conference, which laid the foundation for the modern global financial architecture.

According to a statement released by the CBN in Abuja, Mr. Cardoso emphasized the importance of enhancing the responsiveness of these international financial institutions to the unique economic challenges faced by countries in Africa and other regions. He highlighted the need for more tailored financial solutions that take into account the varying economic circumstances, development priorities, and growth aspirations of individual nations.

The *Bretton Woods at 80* Forum convened a select group of global leaders, economists, and policymakers to discuss the evolution of the international financial system and explore pathways for reforming the existing frameworks to better serve the contemporary global economic landscape.