The world has to remain strong amidst threats posed by climate change, terrorism and commodity prices.
Nigeria and other countries of the world are looking towards agriculture, financial technology, manufacturing, gender equality and increasing tax revenues to combat these threats.
The business and finance world — led by the World Bank and the International Monetary Fund (IMF) — will be converging on Washington DC to discuss and decide the path forward, and Nigeria will be adequately represented.
TheCable’s Oluseyi Awojulugbe is in Washington to bring you real-time updates on the decisions reached by global players, with specifics on how these decisions will affect Nigeria and the African continent.
Nigeria will be represented by Kemi Adeosun, minister of finance, Godwin Emefiele, governor of the Central Bank of Nigeria, and Ngozi Okonjo-Iweala, chair of GAVI and former finance minister.
Here are the key events to look out for
On Tuesday, the IMF will be unveiling its World Economic Outlook (WEO) for the rest of 2017, 2018 and 2019. In this outlook, the Bretton Woods institution may review Nigeria’s expected GDP growth, which is currently put at 0.8 percent for 2017.
On Wednesday, the IMF will be unveiling its Global Financial Stability Report.
It will also examine the debt status and rising vulnerabilities of developing countries, of which Nigeria is one.
The World Bank will also examine the future how to target food security for the world in years to come.
Godwin Emefiele, CBN governor, will meet with central bank governors from other Commonwealth countries.
Kemi Adeosun, minister of finance, will meet with finance ministers from other Commonwealth countries.
The IMF will plan towards 2030, examining trends, opportunities, challenges and policies for global inclusive growth and how developing countries can move closer to the technological frontier.
The IMF’s African department will unveil the African Regional Economic Outlook and also focus on how developing countries, particularly in Africa, work with the EU on strengthening their public finance management and domestic revenue mobilisation and how the European Commission works with countries on budget support.
The World Bank will examine the state of the African region and pathways to peace focusing on approaches to preventing violent conflict across the world.
The IMF will also introduce the medium-term revenue strategy and how developing countries can transform their tax systems.
Okonjo-Iweala, Christine Lagarde, IMF managing director, and other experts will examine diverse impacts of corruption and the lessons learnt from examples where it has been combated effectively to enable the IMF make “innovative policies to fight corruption.”