Let me begin by congratulating Ms. Georgieva on her well-deserved second term as Managing Director of the IMF.

We also thank her leadership in securing the IMF’s strong support for the G-24 since its inception in 1971.

For more than five decades, the world has undergone rapid and often tumultuous change. We have weathered numerous crises—each more complex than the last.

Yet one thing has remained constant: the long-standing commitment of the G-24 to multilateralism. Time and again, we have proven that nations with shared interests can unite to amplify their voices and steer global progress.

And as global challenges evolved, so too did our multilateral institutions. The IMF and World Bank have adapted their mandates, policies, and financial tools in response to the rapidly transforming global landscape.

However, today is an extremely different world. Financial interconnectedness, digital disruption, widening inequality, climate change, and geopolitical tensions are reshaping the global order.

These seismic shifts are testing the capacity of our multilateral organizations to serve their members effectively. As nations, we too must step up to meet the needs of our people in these trying times.

And I continue to emphasize that any slowdown in the global economy because of these uncertainties and new economic realities is bound to hit developing countries the hardest.

That is why we continue to call for a more agile and resolute IMF and World Bank.

We need you to not only keep pace with the changing times but also lead with foresight and innovation.

We need heightened development cooperation, scale-up support, and more responsive solutions to navigate the headwinds and foster peace, stability, and prosperity for all.

While many reforms have been proposed, allow me to emphasize four key areas the G24 considers critical. These are issues that were thoroughly discussed at our Deputies’ meeting yesterday:

First, Liquidity Provision. Given the imbalance in the Global Financial Safety Net and the limited options available to developing nations, the IMF needs to establish a new liquidity provision mechanism to further support countries with sound fundamentals in times of liquidity crises.

Second, More Ambitious World Bank Goals. To meet its mission of eradicating poverty on a livable planet, the World Bank needs more ambitious goals for its concessional and non-concessional windows, commensurate with the challenges of achieving inclusive and sustainable development by 2030.

Third, Sovereign Debt Resolution. The Framework must be reformed to deliver comprehensive, predictable, swift, and impactful debt relief, addressing the urgent needs of vulnerable economies.

Last but not least, Governance and Institutional Reform. We must accelerate these reforms to increase the voice and representation of developing nations.

Today, we eagerly look forward to hearing from our distinguished guests about the progress of the Bretton Woods Initiative and the future of development cooperation.

Without improvements and bold actions, decades of individual and global efforts to eradicate poverty and inequality, combat climate change, and invest in growth-enhancing projects will be put to a halt, if not reversed.

Thus, we are counting on this meeting to set an unprecedented multilateral cooperation and action.

We must remember that we are all interconnected for better or for worse. Now more than ever, we need to work doubly hard together to reverse headwinds, restore global stability, and secure the future of our peoples.

With that, I now turn the floor over to Managing Director Georgieva. Following her remarks, we will hear from President Banga. Thank you.