Senator Musa, chairman of the Senate Finance Committee, urged the IMF and World Bank to prioritize domestic economic growth strategies in developing nations, arguing against austerity and external dependency. He stressed the need for local industry development, youth empowerment, and prioritizing domestic value chains over raw exports to build economic resilience.
Senator Musa urged greater involvement of national parliaments and civil society in development strategies to ensure transparency and alignment with local needs. He argued that international financial institutions should move beyond crisis management to become partners in building resilience, emphasizing a development model that prioritizes national priorities, local innovation, and citizen participation in economic progress. His remarks generated significant discussion about the role of multilateral institutions in post-crisis recovery and inclusive development.