IMF, WB to help member countries address economic challenge posed by COVID-19
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IMF, WB to help member countries address economic challenge posed by COVID-19

IMF, WB to help member countries address economic challenge posed by COVID-19
Travelers wear protective mask as they walk through in terminal 5 at O'Hare International Airport in Chicago. Photo: AP


International Monetary Fund (IMF) Managing Director Kristalina Georgieva and President of World Bank Group David R. Malpass on Monday said they stand ready to help member countries address the human tragedy and economic challenge posed by the COVID-19 virus. 

“The IMF and the World Bank Group are fully committed to provide the support that people in our member countries expect from us,” they said in a joint statement.

The IMF MD and WB President said the international cooperation is essential to deal with the health and economic impacts of the COVID-19 virus.

“We are engaged actively with international institutions and country authorities, with special attention to poor countries where health systems are the weakest and people are most vulnerable,” he said.

They said they will use their available instruments to the fullest extent possible, including emergency financing, policy advice, and technical assistance.

“In particular, we have rapid financing facilities that, collectively, can help countries respond to a wide range of needs. The strengthening of country health surveillance and response systems is crucial to contain the spread of this and any future outbreaks,” reads the statement.

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IMF World Bank Group International Monetary Fund COVID-19 COVID-19 patient economic challenge IMF Managing Director Kristalina Georgieva President of World Bank Group David R. Malpass