IMF Managing Director Kristalina Georgieva and World Bank Group President David Malpass
The IMF and the World Bank Group stand ready to help our member countries address the human tragedy and economic challenge posed by the COVID-19 virus. We have 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.
We will use our 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.
International cooperation is essential to deal with the health and economic impact of the COVID-19 virus. The IMF and the World Bank Group are fully committed to providing the support that people in our member countries expect from us.”
How the IMF Can Help Countries Address the Economic Impact of Coronavirus
The International Monetary Fund stands ready to provide assistance to member countries facing immediate financing needs arising from public health disasters.
A global health crisis, such as the coronavirus, inevitably can have an adverse economic impact, and it is part of the IMF’s mandate to assist countries through policy advice and lending.
The institution is working closely with its development partners—World Bank, World Health Organization, and Asian Development Bank—and other health officials to provide timely policy advice, technical assistance, and financial support.
The IMF has the following facilities and instruments in its toolkit to help countries respond to the economic impact of the coronavirus.
The IMF will continue to support vulnerable countries through capacity development. Given the need to quickly redirect public resources, the IMF will remain closely engaged with the affected member countries and development partners, working as needed to reprioritize capacity development activities.
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