World Bank, IMF chiefs to discuss complex challenges facing global economy

Washington [US], April 9 (/WAM): World Bank Group President David Malpass and IMF Managing Director Kristalina Georgieva will on Monday kick off the Spring Meetings with a discussion on the complex challenges facing the global economy.

The 2023 Spring Meetings will be held in Washington, D.C., from April 10-16 under the theme "The Way Forward: Building Resilience and Reshaping Development''.

Three years since the pandemic started, uncertainties and risks still weigh heavily on the global economy, according to the World Bank.

Stubborn inflation, the cost-of-living crisis, and slower growth affects all of us, but especially hurts the poor and most vulnerable. Record-high debt is holding back developing countries, and the effects of climate change are threatening lives and livelihoods around the world.

On top of all this, the crisis in Ukraine and geopolitical fragmentation make international coordination even more challenging.

This conversation will explore how to better finance global public goods and address these challenges together.

The 2023 Spring Meetings bring together government officials from the IMF and WBG's member states, observers and representatives of international, regional and economic orgsations, as well as central bank governors and representatives of civil society orgsations. Additionally, senior officials from the private sector, financial institutions, banks, members of parliaments, shura councils, and academics will participate in the Spring Meetings. (/WAM)