By zainab.joaque@awokonewspapersl.com
Washington, D.C. – Sierra Leone’s Minister of Finance, Sheku Fantamadi Bangura, has called for a united African response to mounting global economic threats, including trade wars, inflation, and geopolitical instability. Speaking on April 23 at the first in-person meeting of the IMF Africa West Constituency during the Spring Meetings in Washington, D.C., Minister Bangura emphasized the urgent need for coordinated action and policy alignment among African nations.
In his capacity as Chair of the Africa West Constituency at the International Monetary Fund (IMF), Bangura welcomed delegates with a firm message: “Our solidarity is our strength. By pursuing collective strategies, we can find common solutions to the challenges confronting our economies.”
Minister Bangura warned of escalating global trade retaliation and shifting tariff regimes that pose direct threats to African markets. He noted that rising inflation, volatile commodity prices, and regional geopolitical tensions are placing additional pressure on already strained fiscal environments across the continent.
“We are meeting at a time of unprecedented global volatility,” Bangura stated. “Trade disputes and retaliatory policies are reshaping the global economic landscape, and these shocks reverberate through our economies in Sub-Saharan Africa.”
He acknowledged progress made since the group’s last meeting, including the establishment of a third chair for Sub-Saharan Africa on the IMF board—a move he described as a critical step toward amplifying Africa’s voice within the institution’s governance framework.
Bangura underscored the IMF’s responsiveness to African concerns, commending ongoing engagements with the African Consultative Group. “The Fund is listening. But we must recalibrate our approach and actively guide its agenda to reflect the realities and priorities of our nations,” he said.
He also addressed the significant fiscal and debt burdens faced by many African countries, urging his counterparts to adopt a proactive and unified approach to financial governance. “Fiscal space is constrained, and debt levels remain a pressing issue. Our policy mix must be strategic, and our messaging clear if we are to influence the Fund’s direction effectively.”
The meeting’s agenda—comprising nine key discussion items—was adopted with support from both Liberia and Sierra Leone. As the session progressed to review past resolutions and current matters, the tone was clear: Africa must assert its influence in shaping global economic policy.
Minister Bangura’s message reflects a broader continental ambition—to move from reactive economic engagement to proactive global leadership. With intensified collaboration and a shared vision, African finance leaders are striving to ensure that institutions like the IMF are not only inclusive but truly responsive to the continent’s developmental needs. ZIJ/25/4/2025
