The high-level working group on the global financial architecture is coordinated by the Economic Commission for Africa, comprises African ministers of finance, planning and economic development, the African Union, the African Development Bank, the African Export-Import Bank and the World Bank Group, and includes the participation of staff and executive directors of the International Monetary Fund. The role of the working group has been to monitor and respond to the economic consequences for African countries of the coronavirus disease (COVID-19) pandemic and the war in Ukraine. The working group has functioned as a platform for building a consensus among African policymakers on specific requests and proposals for reforming the global financial architecture.
The working group has been convening since early 2022, both in person and online. In consultation with African finance ministries, the Commission is preparing a report to propose a new work agenda for the International Monetary Fund to improve responses to the challenges that low-income and middle-income countries are facing in the current global financial architecture.