World Bank and IMF leaders to discuss global economic challenges at 2023 spring meetings
World Bank Group President David Malpass and IMF Managing Director Kristalina Georgieva will launch the 2023 Spring Meetings in Washington, D.C. with a discussion on the complex challenges facing the global economy. The meetings will take place from April 10th to 16th under the theme “The Way Forward: Building Resilience and Reshaping Development.”
Despite the passage of three years since the pandemic began, uncertainties and risks continue to weigh heavily on the global economy. The World Bank warns that stubborn inflation, the cost-of-living crisis, and slower growth are having a particularly harmful effect on the poor and most vulnerable. Additionally, the record high debt is holding back developing countries, and the effects of climate change are threatening lives and livelihoods worldwide. Furthermore, the crisis in Ukraine and geopolitical fragmentation are making international coordination even more challenging.
This discussion will explore ways to finance global public goods and tackle these challenges together. Government officials from the IMF and World Bank Group’s member states, along with observers and representatives of international, regional, and economic organizations, central bank governors, and representatives of civil society organizations will participate in the meetings. Moreover, senior officials from the private sector, financial institutions, banks, members of parliaments, shura councils, and academics will also attend.
As the world faces ongoing economic challenges, the Spring Meetings offer an opportunity for leaders to come together and discuss innovative solutions to these complex issues. The global economy is intricately linked, and addressing these challenges will require cooperation and coordination among international organizations, governments, and the private sector.