At the 2017 annual meetings of the International Monetary Fund (IMF) and World Bank Group, Christine Lagarde, IMF managing director, advised world leaders to invest in their people.
During his recent visit to Nigeria, Bill Gates, world’s second richest man, echoed the similar thoughts, saying roads and trains without skilled workers cannot flourish.
The business and finance world — led by the World Bank and IMF — will converge on Washington DC with a focus on gender equality, human capital investment, cryptocurrencies, sustainability and private sector investment.
Deliberating on these topics and others, political leaders, civil society organisations and private sector leaders will chart a way forward.
TheCable’s Oluseyi Awojulugbe is in Washington DC to bring you real-time updates on the decisions reached by global players, with specifics on how these decisions will affect Nigeria and Africa.
Some of the Nigerian delegates at the meetings are Kemi Adeosun, minister of finance, Godwin Emefiele, governor of the Central Bank of Nigeria, Tony Elumelu, chairman, Heirs Holdings, Omobola Johnson, honorary chairperson, Alliance for Affordable Internet and former minister of communications, Amina Mohammed, the deputy secretary-general of the UN and former minister of environment.
Others are Seni Sulyman, Andela’s vice president, global operations, Oyindamola Olabopo Ogundeji, designer and CEO of Fashpa.com and Ugwem Eneyo, founder of a start-up IoT and software firm, Solstice Energy Solution.
Here is the timetable.
After an exit from recession and a GDP growth like IMF predicted, the World Economic Outlook to be unveiled on Tuesday will be one to look forward to.
In this outlook, the global lender will make known its projections of Nigeria’s GDP growth in 2018 and 2019.
Later that day, there will be an analysis of whether low oil prices were a blessing in disguise for oil exporting countries.
In another session, financial experts will discuss the early warning signs of banking crises in countries.
On Wednesday, there will be discussions around the efficiency of public investments in Sub-Saharan African countries.
In a session titled, ‘Creating Markets for Climate Business: Mobilizing Private Sector Solutions’, political and financial leaders will deliberate on how to create an enabling environment for private sector participation.
Later on, participants will celebrate the 70th anniversary of the Universal Declaration of Human Rights.
Financial technology will be at the centre of discussions on Thursday.
Tony Elumelu, Omobola Johnson and Seni Sulyman will join the World Bank president and other experts to discuss the prospects of a digital economy for Africa.
Later that day, Amina Mohammed will give the opening remarks at a session titled: ‘SDGs and Big Data.
Oyindamola Olabopo Ogundeyi will also be a panelist at a session titled: Disrupting the gender divide: Power of online finance and market platforms.
Later on, there will be a session on digital identities and how Know Your Customer (KYC), a compulsory requirement for banks and telecommunications companies can be used.
There will also a session about the risks and opportunities of investing in cryptocurrencies.
Kemi Adeosun, Nigeria’s finance minister, and Godwin Emefiele, governor of the Central Bank of Nigeria, will meet counterparts from other G-24 countries after which a press conference will be held to intimate the media on their deliberations.
On Friday, the African department of the IMF will present its regional economic outlook before African representatives present.
The report will later be unveiled at a press conference.
Later on, there will be a session on how to attract private sector investments to Sub-Saharan African countries.
On Saturday as the meetings wind down, finance ministers from African countries present will hold a press conference to intimate the media about their activities at the meetings.
Nigeria’s Ugwem Eneyo, founder of Solstoce Energy Solutions, will join a panel to discuss how Africa can use innovation to transform agriculture and energy.
On Sunday as the meetings come to a close, there will be a session on how countries can restore citizens’ trust by curbing corruption.