Ethiopia’s Minister of Finance, Ahmed Shide, took a leading stance at the recent G-24 Ministers and Governors Meeting in Washington, D.C., strongly advocating for a fundamental overhaul of the global financial architecture. Minister Ahmed strongly advocated for a "bigger, better, and fairer multilateral system" that ensures developing nations have a true voice and adequate access to global resources.

Speaking at the 114th meeting of the Intergovernmental Group of Twenty-Four (G-24) during the 2025 World Bank and IMF Annual Meetings, the Minister emphasized that the current system falls short of serving the needs of the developing world. Echoing the G-24 communiqué, he specifically called for predictable and timely debt-restructuring mechanisms under the G20 Common Framework, while acknowledging the modest progress achieved in this crucial area.

The meeting, chaired by Argentina and attended by top financial officials including IMF Managing Director Kristalina Georgieva and World Bank Group Managing Director for Operations Anna Bjerde, focused on "Structural Transformation Policies for Unlocking Growth Potential."

Minister Ahmed underscored the necessity of concessional financing, renewed multilateralism, and greater solidarity to ensure the global system delivers for developing economies, both in long-term development and during crises.

In response, the heads of the IMF and World Bank Group reaffirmed their commitment to maintaining strong program engagement with G-24 member countries. They praised the ongoing reform efforts across many of these nations, urging them to continue the course to safeguard financial stability and lay the groundwork for sustainable, inclusive growth. Both institutions called for multilateral development banks and private lenders to step up their efforts and join this collective commitment.