World Bank, IMF annual meeting to start in Washington
By : NAN
Date:
21 October 2024 11:48am WAT
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(FILES) In this file photo the street corner between the World Bank headquarters and the IMF building is seen in Washington, DC on October 1, 2020. - The global economic crisis will not be quite as grim as feared this year, but GDP will still contract 4.4 percent and the pandemic means the outlook remains uncertain, the IMF said on October 13, 2020. Massive injections of government aid kept economies from plunging further, but growth in 2021 is expected to be slightly slower than forecast in June and even weaker in the next few years due to the lasting damage inflicted by Covid-19, the IMF said in its latest World Economic Outlook. (Photo by Eric BARADAT / AFP)
(FILES) In this file photo the street corner between the World Bank headquarters and the IMF building is seen in Washington, DC on October 1, 2020. - The global economic crisis will not be quite as grim as feared this year, but GDP will still contract 4.4 percent and the pandemic means the outlook remains uncertain, the IMF said on October 13, 2020. Massive injections of government aid kept economies from plunging further, but growth in 2021 is expected to be slightly slower than forecast in June and even weaker in the next few years due to the lasting damage inflicted by Covid-19, the IMF said in its latest World Economic Outlook. (Photo by Eric BARADAT / AFP)
the International Monetatry Fund (IMF) and the World Bank annual meeting is due to start on Monday in the U.S. capital, Washington.Overshadowed by international crises, the International Monetatry Fund (IMF) and the World Bank annual meeting is due to start on Monday in the U.S. capital, Washington.
The meeting is to bring together finance ministers, representatives from the financial sector and development cooperation, as well as central bankers.
The discussions, set to run until Sunday, are expected to address, among other issues, a looming debt crisis in lower-income countries, climate change and poverty alleviation.
As part of the meeting, the IMF also plans on Tuesday to present a new forecast for future growth in the global economy.
IMF head, Kristalina Georgieva, said last week that the outlook for the world economy in the medium term was lackluster, not sharply lower than pre-pandemic, but far from good enough.
Participants from Germany included Finance Minister Christian Lindner and Bundesbank President Joachim Nagel.
