The Banking Executive Magazine - April 2021

World Bank/IMF Spring Meetings 2021 OVERVIEW For betty, please add general pic The 2021 annual meetings of the world bank group (wbg) and the in- ternational monetary fund (imf) which took place virtually from mon- day, april 5, through sunday, april 11, 2021 brought together central bankers, ministers, parliamentarians, and other public sector representa- tives and officials along with private sector executives, and academics to discuss issues of global concern, in- cluding the world economic outlook, poverty eradication and economic development and most importantly the repercussions of the covid-9 and recovery track. This year the meetings featured sem- inars, regional briefings, press con- ferences, and many other events that focused on several global issues on economy, international develop- ment, and the world's financial sys- tem. The meetings main focus was on a pandemic and post pandemic world, vaccination and road to re- covery. The event included meetings of the development committee, the interna- tional monetary and financial com- mittee (imfc) and the coalition of finance ministers for climate action. The participants identified chal- lenges going forward, including: slowing global growth; insufficient investment rates in developing coun- tries; climate change and extreme weather; fragility, conflict and vio- lence, crisis management, gender in- equality, knowledge, regional integration, energy security, biodiver- sity, illicit financial flows and pan- demics. INTERGOVERNMENTAL GROUP OF TWENTY-FOUR ON INTERNATIONAL MONETARY AFFAIRS AND DEVELOPMENT COMMUNIQUÉ 7 APRIL 2021 Chaired by Abdolnaser Hemmati, Governor of the Central Bank of the Islamic Republic of Iran 1. The global economy is showing signs of recovering from the covid-19 crisis. The path to broad-based and inclusive recovery is nevertheless fraught with uncertainty about the availability and access to safe and af- fordable vaccines for all and the strength of external financial support to developing countries. The pan- demic has strained the health sys- ISSUE 148 APRIL 2021 the BANKING EXECUTIVE 25