The Banking Executive Magazine - April 2021

World Bank/IMF Spring Meetings 2021 11. The bretton woods institutions play important roles in assisting de- veloping countries rebuild better and contribute to global climate goals. As they strengthen climate actions in programs, we ask that they tailor their assistance to the diverse cir- cumstances of developing countries. We ask the wbg and other mdbs to support borrower countries pursue paths to a more sustainable recovery that consider countries’ current eco- nomic structures. These should result in a balanced integration of climate objectives with the achievement of the sustainable development goals. In this regard, mdbs should also strengthen their work on approaches to increase productivity, diversify economies and foster job-creating in- clusive growth. We urge the mdbs and the imf to articulate better the el- ements of their assistance strategies, within their comparative advantages and in line with their mandates, to support developing countries of di- verse circumstances transition to more inclusive and sustainable economies. SECOND G20 FINANCE MINISTERS AND CENTRAL BANK GOVERNORS MEETING COMMUNIQUE - ITALIAN G20 PRESIDENCY 7 APRIL 2021 After the sharp contraction in 2020, the global outlook has improved mainly due to the roll out of vaccina- tion campaigns and continued policy support. However, the recovery ap- pears uneven across and within countries, fragile and subject to ele- vated downside risks, including the spread of new variants of the covid- 19 virus and different paces of vacci- nation. We will address the problem of economic scarring, especially on those most impacted, including women, youth, informal and low- skilled workers. We commit to re- maining vigilant and avoiding any premature withdrawal of support measures. We reaffirm our resolve to use all available policy tools for as long as required to protect people's lives, jobs and incomes, to support the global economic recovery, fight rising inequalities, and enhance the resilience of the financial system, while safeguarding against downside risks and negative spillovers and pre- serving long-term fiscal sustainabil- ity. Overcoming the pandemic is a pre- condition for a stable and lasting re- covery. We remain committed to strengthening health systems and fa- cilitating equitable and swift access to safe, effective and affordable covid-19 vaccines, therapeutics and diagnostics and we encourage efforts to rapidly step up their production and distribution. In this regard, we recognize the role of covid-19 im- the BANKING EXECUTIVE 28 ISSUE 148 APRIL 2021