The COVID19
pandemic triggered a historic setback, pushing 70 million people into extreme poverty in 2020 – the largest one-year increase in three decades. The war in Ukraine deepened the global economic slowdown, which is now in its steepest decline following a post-recession recovery since 1970.
Tag Archives: IMF
Annual Meetings Live Events
Join leaders, experts and activists to discuss how we can best respond to the multiple overlapping crises facing developing countries. How can we work together to navigate an uncertain world? Read more
October 10-16, 2022
Set reminders to join the live events and post questions for our development experts.
Check back for regular updates and event highlights.
Annual Meetings Live Events
Join leaders, experts and activists to discuss how we can best respond to the multiple overlapping crises facing developing countries. How can we work together to navigate an uncertain world? Read more
October 10-16, 2022
Set reminders to join the live events and post questions for our development experts.
Check back for regular updates and event highlights.
Annual Meetings Live Events
Join leaders, experts and activists to discuss how we can best respond to the multiple overlapping crises facing developing countries. How can we work together to navigate an uncertain world? Read more
October 10-16, 2022
Set reminders to join the live events and post questions for our development experts.
Check back for regular updates and event highlights.
Annual Meetings Live Events
Join leaders, experts and activists to discuss how we can best respond to the multiple overlapping crises facing developing countries. How can we work together to navigate an uncertain world? Read more
October 10-16, 2022
Set reminders to join the live events and post questions for our development experts.
Check back for regular updates and event highlights.
The Crisis Facing Development
Helping Countries Cope with Multiple Crises
This year’s Spring Meetings of the World Bank Group and International Monetary Fund took
place at a time of overlapping global crises. The war in Ukraine has compounded concerns about inflation, COVID-19, climate change, and debt, with many other countries also facing fragility and conflict.
The chair’s statement issued on Friday by the Development Committee, a ministerial-level forum that represents 189 member countries of the two organizations, noted that the impacts will be felt most in low- and middle-income countries, especially by their most vulnerable people, including women and children. The statement added that economic recovery is at risk amid geopolitical tensions, with investment, trade, and growth affected, even as countries face further risks from the pandemic and uneven deployment of vaccines.
Joint Statement: The Heads of the World Bank Group, IMF, WFP, and WTO Call for Urgent Coordinated Action on Food Security
- Proposed actions to help vulnerable countries include providing emergency food supplies and deploying financial support to households and countries; facilitating unhindered trade; investing in sustainable food production and nutrition security.
- Leaders call on the international community to support vulnerable countries through grants to cover urgent financing needs.
WASHINGTON, 13 April 2022— The Heads of the World Bank Group (WBG), International Monetary Fund (IMF), United Nations World Food Program (WFP), and World Trade Organization (WTO) today called for urgent action on food security. World Bank Group President David Malpass, IMF Managing Director Kristalina Georgieva, WFP Executive Director David Beasley and WTO Director General Ngozi Okonjo-Iweala issued the following joint statement ahead of the Spring Meetings of the IMF and World Bank Group next week:
Continue readingDevelopment in a Time of Upheaval: Speech by World Bank Group President David Malpass
Ahead of the World Bank Group-IMF Annual Meetings, President Malpass delivers a speech in Khartoum, Sudan, entitled “Development in a Time of Upheaval. ” President Malpass will set out the major challenges and opportunities in building a resilient and inclusive recovery for all. He will look at the dynamics of recent global economic growth that have contributed to inequality and a reversal in development progress. President Malpass will also explore how to remove or confront obstacles to development such as high debt, high trade costs, and the diminished capacity of many middle-income countries following COVID-19.
The speech will be followed by a moderated discussion.
New global database to enhance transparency and improve delivery of COVID-19 tools
The International Monetary Fund, World Bank Group, World Health Organization and World Trade Organization have joined forces to accelerate access to COVID-19 vaccines, therapeutics and diagnostics by leveraging multilateral finance and trade solutions, particularly in low- and middle-income countries.
Netherlands for the World Bank 
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