The spring meetings of the International Monetary Fund and the World Bank will begin in Washington on Wednesday with twin objectives of help countries to combat climate change, and assist the most indebted nations. The events will start with the IMF’s publication of its updated World Economic Outlook. The meetings will bring central bankers together with finance and development ministers, academics, and representatives from the private sector and civil society to discuss the state of the global economy.
This year marks the 80th anniversary of both institutions. They were born of the Bretton Woods conference, held in 1944 as allied nations sought to regulate the international financial order after World War II, which was then still raging.
World Bank head Ajay Banga during a recent live streamed press conference said that there is the climate crisis, debt, food insecurity, pandemics and fragility. He said, there is clearly a need to accelerate access to clean air, water and energy.
