United We Stand: IMF and World Bank Emphasize Accountability in Addressing Global Challenges
The steering committee of both the International Monetary Fund (IMF) and the World Bank emphasized the importance of broader accountability as they implemented reforms to address climate change and other challenges. During their joint meetings, Mohammed bin Hadi Al Husseini, the United Arab Emirates’ minister of state for finance and head of the Development Committee, highlighted economic risks posed by conflicts in the Middle East and Ukraine.
Al Husseini issued a chair’s statement instead of a communique, calling for increased accountability as the institutions grew. He urged the IMF and World Bank to strengthen global and regional partnerships and continue with country engagement reforms and enhanced country diagnostics.
Governors of the institutions also called for increased collaboration between the IMF and World Bank to help countries increase domestic revenues and address issues such as climate change, pandemic preparedness, and debt sustainability. They emphasized working together to provide support for countries facing various challenges.
