IMF, World Bank pledge to help countries to combat coronavirus

The IMF and World Bank have said they “stand ready to help” countries deal with the financial and health effects of the coronavirus, suggesting that a global response could soon be forthcoming. “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 two global institutions in a joint statement said. “We will use our available instruments to the fullest extent possible, including emergency financing, policy advice, and technical assistance. The strengthening of country health surveillance and response systems is crucial to contain the spread of this and any future outbreaks.”

The statement signed by IMF Managing Director Kristalina Georgieva and World Bank Group President David Malpass reads “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 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. 

“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 provide the support that people in our member countries expect from us.”