African countries must not settle for less when negotiating with the IMF – Afreximbank President

Prof. Benedict Oramah, President of the African Export-Import Bank (Afreximbank), has urged African leaders to negotiate better terms with the International Monetary Fund (IMF).

Speaking at the launch of the Alliance of African Multilateral Financial Institutions in Accra, Oramah emphasized that African countries should leverage their IMF membership to demand equal treatment, similar to European or Asian countries.

He called for a change in Africa's IMF quota and advocated for the establishment of an African Credit Rating Agency to enhance intra-continental integration and better access to global financial markets.

The Alliance aims to collaborate on strategies addressing Africa's development needs and advocate for Africa's interests in global finance.