US$10bn set for coronavirus fight

THE International Monetary Fund (IMF) and World Bank Group (WBG) have released US$10billion to help sub-Saharan Africa fight the corona virus.

The virus’ threat to global growth has since compelled the two institutions to turn the 2020 spring meetings to virtual format.

In a statement released in Washington D.C, IMF Director Kristalina Georgieva, and WBG president David Malpass, said like everyone else around the world, they were deeply concerned by the evolving situation of the corona virus and the human tragedy surrounding it.

They said that given growing health concerns related to the virus, the IMF and WBG managements and their executive boards agreed to implement a joint plan to adapt the 2020 IMF-WBG spring meetings to a virtual format.

“Our goal is to serve our membership effectively while ensuring the health and safety of Spring Meetings participants and staff,” they said in a statement. This is according to a statement released by first secretary for press and public relations at the Zambian embassy in Washington D.C Eric Mwanza.

As a result of change of format of the meetings, registration to participate in the spring meetings in person has been suspended.

The WBG and IMF said they had adequate capacity to conduct the meetings via audio and video format and added that the meetings’ agenda would not be abandoned as a result of the change of format.

The meetings are scheduled for April 17-19, 2020.

“We remain fully committed to maintaining a productive dialogue with our stakeholders and will leverage our IT-related and virtual connection capabilities to the fullest to hold our essential policy consultations with the membership.