Bretton Woods Institutions must coordinate policies for developing countries – Governor Asiama

The Governor of the Bank of Ghana (BoG) Dr. Johnson Asiama has appealed to the Bretton Woods Institutions and other international financial institutions (IFIs) to coordinate their policies for developing countries like Ghana.

He argued that such coordination will help developing countries in Africa promote Regional Corporation in addressing common challenges.

“We urge the International Monetary Fund (IMF), other IFIs, and regional bodies to better coordinate and align their financial and technical support to developing countries, considering diverse needs and capacities”, he said at IMF/World Bank 2025 Spring meetings in Washington, U.S.A.

Dr. Asiama emphasized the need to promoting regional cooperation to address common issues and capitalize on collective strengths of African countries.

He cited for example the importance of working together to address issues of climate change.

“Given the debt vulnerabilities exacerbated by climate change, we call for enhanced collaborative efforts”, he stressed.

Providing some recommendations, Dr. Asiama proposed ambitious yet achievable and monitorable concessional financing options, establishing joint financing mechanisms, and developing common policy frameworks.

In addition, he advocated innovative financing solutions, such as blended finance and debt-for-climate/ SDG swaps, is crucial for addressing both debt vulnerabilities and climate risks.

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