Publication: Joint Press Conference on COVID-19 by IMF Managing Director and World Bank Group President
Loading...
Files in English
632 downloads
Other Files
90 downloads
267 downloads
192 downloads
140 downloads
Published
2020-03-04
ISSN
Date
2020-03-26
Author(s)
Editor(s)
Abstract
The IMF Managing Director and the World Bank Group President held a Joint Press Conference on COVID-19. The IMF Managing Director spoke in detail about the potential direct and indirect impact of coronavirus on the global economy. She explained about how the IMF response to the epidemic will be. She told that IMF is fully committed to support the members, coordinating very closely with partner institutions. She concluded by making an important point to focus on building a bridge between where we are and that time when we would see a recovery, to make sure that the impact, in meanwhile, is softened, first and foremost, on people, and also, of course, on businesses and the economy. The World Bank Group President spoke about how the Bank is working to provide a fast, flexible response, based on developing country needs. He told them about how the Bank is providing technical assistance, goods and services that will help prevent and limit the local transmission including laboratory equipment, and systems to ensure that cases of the virus are promptly identified and traced. He mentioned about the World Bank Group and IMF working closely with WHO on the cooperation with regard to procurement and other important technical matters. He summed up by saying that the speed and breadth of the response is crucial to its effectiveness, and that's what the Bank set out to do.
Link to Data Set
Citation
“Georgieva, Kristalina; Malpass, David. 2020. Joint Press Conference on COVID-19 by IMF Managing Director and World Bank Group President. © World Bank. http://hdl.handle.net/10986/33488 License: CC BY 3.0 IGO.”
Digital Object Identifier
Associated URLs
Associated content
Other publications in this report series
Journal
Journal Volume
Journal Issue
Related items
Showing items related by metadata.
Publication World Bank Group Press Conference at the 2021 Spring Meetings, April 7, 2021(World Bank, Washington, DC, 2021-04-07)David Malpass, President of the World Bank, discussed vaccines, climate, and debt. The World Bank commitments grew a record amount both in percent terms and dollar terms in 2020. The Bank is providing financing for several of the countries and they can be large-scale programs, but the countries are working to arrange delivery schedules from the various vaccine providers. That will be an important part of the recovery. The Bank completed a big vaccination operation through Board, which makes financing available to Bangladesh and also technical assistance from the World Bank, which is very helpful to the countries as they try to enter contract discussions, and also as they work within their health systems in order to vaccinate people. The Bank is working actively on biodiversity and agricultural challenges facing Brazil.Publication Opening Remarks at the 2019 Annual Meetings Opening Press Conference(World Bank, Washington, DC, 2019-10-17)David Malpass, President of the World Bank Group, highlighted the urgent priorities for discussion with shareholders. Global growth is slowing. Investment is sluggish, manufacturing activity is soft, and trade is weakening. The challenges of climate change and fragility are making poor countries more vulnerable. This backdrop makes our goals of reducing extreme poverty and boosting shared prosperity even harder. He suggested that with the right mix of policies and structural reforms, countries can unleash growth that's broadly shared across all segments of society. He spoke about how the Bank is helping countries build strong programs tailored to the unique circumstances of their economies. He highlighted the importance of education. He mentioned the proposed IDA replenishment, and reaffirmed commitment to projects on climate and on gender inclusion. In conclusion, he said that the well-designed structural reforms are needed to unlock growth and build the foundations for future prosperity.Publication Remarks by World Bank Group President David Malpass on Bretton Woods 75th Anniversary(World Bank, Washington, DC, 2019-07-16)David Malpass, President of the World Bank Group, commemorated the 75th anniversary of the 1944 conference held in Bretton Woods, New Hampshire which led to the creation of the World Bank. He spoke about key historical events and development challenges. He discussed the IDA19 replenishment and its importance to the Sahel. He noted the evolution of development policy and development finance, including highlights like the debt crisis, globally traded bonds, and Green Bonds. He mentioned advisory services and key reports produced by the Group.Publication Remarks from World Bank Group President David Malpass at the G20 Leaders Summit(World Bank, Washington, DC, 2019-06-29)These remarks were delivered by David Malpass, President of the World Bank Group, at the G20 Leaders Summit held in Osaka, Japan. He spoke about how giving women better access to economic opportunities is critical to eliminate differences in living standards between men and women. He highlighted We-Fi which is so important and how the Bank was proud to celebrate its two-year anniversary in Osaka. He spoke about the developing countries and the Bank's role in actively identifying changes in the private sector environment that will attract investment and enable higher living standards and better lives. He explained the Bank's work in fragile states, such as the Sahel and the Horn of Africa, to help countries build stronger foundations so that young people are more able to stay rather than seeking to immigrate. He discussed reducing inequality and realizing inclusive and sustainable growth around the world, and how addressing these requires jobs, education, healthcare, attention to the environment, and robust commerce and trade among neighbors and nations. He concluded by saying that the Bank would continue to work with all the nations on these challenges.Publication Remarks at the World Health Organization Media Briefing on COVID-19 and Vaccine Equity(World Bank, Washington, DC, 2021-06-01)World Bank Group President David Malpass stated that the immediate priority is for countries that have sufficient supply to quickly release doses to countries that have vaccination deployment programs. He said that by the end of June, the World Bank will have approved vaccination operations in over 50 countries. It is vital to speed up the supply chain. The World Bank is providing transparent access to very detailed information about projects through an online portal available at https://www.worldbank.org/vaccines. He urged other development partners to publish detailed information about their vaccine financing and deployment programs and their delivery schedules. The World Bank is also working to expand supply and will be making announcements of investments by IFC, the World Bank Group’s private sector development arm.
Users also downloaded
Showing related downloaded files
Publication Global Economic Prospects, June 2023(Washington, DC: World Bank, 2023-06-06)Global growth is projected to slow significantly in the second half of this year, with weakness continuing in 2024. Inflation pressures persist, and tight monetary policy is expected to weigh substantially on activity. The possibility of more widespread bank turmoil and tighter monetary policy could result in even weaker global growth. Rising borrowing costs in advanced economies could lead to financial dislocations in the more vulnerable emerging market and developing economies (EMDEs). In low-income countries, in particular, fiscal positions are increasingly precarious. Comprehensive policy action is needed at the global and national levels to foster macroeconomic and financial stability. Among many EMDEs, and especially in low-income countries, bolstering fiscal sustainability will require generating higher revenues, making spending more efficient, and improving debt management practices. Continued international cooperation is also necessary to tackle climate change, support populations affected by crises and hunger, and provide debt relief where needed. In the longer term, reversing a projected decline in EMDE potential growth will require reforms to bolster physical and human capital and labor-supply growth.Publication Green Technologies: Decarbonizing Development in East Asia and Pacific(Washington, DC: World Bank, 2025-05-19)The East Asia and Pacific region is helping the world decarbonize and is encouraging the domestic adoption of renewables. But there is an imbalance: while the region’s innovation and investment improve global access to green technologies, its own emissions continue to grow because of the reluctance to penalize carbon-intensive practices. The disparity between domestic supply and demand spills over into international trade, provoking measures by other countries that limit access to markets and technologies. "Green Technologies: Decarbonizing Development in East Asia and Pacific" argues that deeper reform of the region’s own policies will encourage the domestic diffusion of cleaner technologies and may also foster greater international cooperation—on climate as well as on innovation and trade in green goods. The book proposes a framework to guide policy on green technology development and diffusion. It will be of interest to policy makers, businesses, and researchers working at the intersection of economics and environmental policy.Publication Good Practice Note on Dam Safety(World Bank, Washington, DC, 2020-10)The objective of this good practice note (GPN) on dam safety is to provide additional guidance to World Bank staff on the application of relevant requirements under the environmental and social framework (ESF). This GPN provides guidance on using a risk management approach to the application of the dam safety requirements. The guidance contained in this note is designed to enhance the quality of practice without creating new requirements for the application of the ESF. The GPN provides guidance on compliance requirements, a risk management approach to dam safety, risk analysis tools, quality of information and capacity, application to World Bank operations, and procedural aspects. The GPN pertains to: (a) construction of new dams or dams under construction (DUC) under investment project financing (IPF); (b) rehabilitation of existing dams under IPF; and (c) existing dams or DUC that are not financed under IPF, on which the project relies or may rely.Publication Global Economic Prospects, January 2023(Washington, DC: World Bank, 2023-01-10)Global growth is projected to decelerate sharply, reflecting synchronous policy tightening aimed at containing very high inflation, worsening financial conditions, and continued disruptions from Russia’s invasion of Ukraine. Investment growth in emerging market and developing economies (EMDEs) is expected to remain below its average rate of the past two decades. Further adverse shocks could push the global economy into recession. Small states are especially vulnerable to such shocks because of the reliance on external trade and financing, limited economic diversification, elevated debt, and susceptibility to natural disasters. Against this backdrop, it is critical that EMDE policy makers ensure that any fiscal support is focused on vulnerable groups, that inflation expectations remain well anchored, and that financial systems continue to be resilient. Urgent global and national efforts are also needed to mitigate the risks of global recession and debt distress in EMDEs, and to support a major increase in EMDE investment.Publication Global Economic Prospects, June 2025(Washington, DC: World Bank, 2025-06-10)The global economy is facing another substantial headwind, emanating largely from an increase in trade tensions and heightened global policy uncertainty. For emerging market and developing economies (EMDEs), the ability to boost job creation and reduce extreme poverty has declined. Key downside risks include a further escalation of trade barriers and continued policy uncertainty. These challenges are exacerbated by subdued foreign direct investment into EMDEs. Global cooperation is needed to restore a more stable international trade environment and scale up support for vulnerable countries grappling with conflict, debt burdens, and climate change. Domestic policy action is also critical to contain inflation risks and strengthen fiscal resilience. To accelerate job creation and long-term growth, structural reforms must focus on raising institutional quality, attracting private investment, and strengthening human capital and labor markets. Countries in fragile and conflict situations face daunting development challenges that will require tailored domestic policy reforms and well-coordinated multilateral support.