IMF/World Bank Annual Meetings: Africa must help shape global AI rules – BoG Governor

Bank of Ghana Governor Dr Johnson Asiama has called on the International Monetary Fund (IMF) to bolster its support for Africa's digital transformation and ensure the continent's voice is amplified in global AI governance. Speaking at the African Caucus Meeting during the IMF/World Bank Annual Meetings, Asiama stressed the need for practical aid in developing AI governance frameworks, supervisory technology, cybersecurity, and digital risk management systems.

He emphasized that these enhancements would empower Africa to not only leverage AI but also adapt, govern, and innovate with it for resilience and inclusive growth.

During a meeting on Africa's digital sovereignty and AI for structural transformation, held on the sidelines of the IMF/World Bank Annual Meetings, Asiama urged the IMF to intensify its examination of the connections between AI, digital transformation, and macro-financial stability. He proposed integrating AI issues into the Fund's surveillance work and Financial Sector Assessment Programmes (FSAPs), evaluating their impact on productivity, employment, financial resilience, and inclusive growth.

Asiama further advocated for enhanced policy coordination on data governance, digital trade, and cross-border AI regulation, urging the IMF to assist in mobilizing affordable financing for secure digital public infrastructure and efforts to bridge the digital divide. He highlighted the importance of responsible AI usage in advancing Africa's structural transformation, economic resilience, and long-term development.

However, he cautioned that persistent gaps in regulatory capacity, cybersecurity, infrastructure, and financing hindered the safe and inclusive application of these technologies. Asiama warned that Africa risked falling further behind without immediate, coordinated efforts, underscoring the necessity of a stronger partnership with the IMF.