IMF, World Bank jointly offer support against coronavirus

The IMF and the World Bank Group has said they stand ready to help, jointly, member countries address the human tragedy and economic challenge posed by the COVID-19 virus.

“We are 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,” the heads of the two institutions said in a joint statement on Monday.

“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.