Edun urges developing nations to act early against global shocks
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has urged developing countries to take early, proactive steps to shield their economies from global shocks, warning that poor policy choices could derail reforms and worsen inflation. Speaking at a G24 news conference on the sidelines of the IMF meetings in Washington, D.C., Edun said today’s uncertain global environment demands careful, balanced decisions, especially in vulnerable developing economies. He cautioned that raising interest rates too quickly could undermine ongoing reforms, while delayed action could allow inflation to spiral. He noted that central banks in developing countries face tough choices as they navigate energy crises, geopolitical tensions and supply chain disruptions that are driving up the cost of fuel, fertiliser and food. While oil‑exporting nations may benefit from higher prices, he stressed that both oil producers and importers are battling […]