The Banking Executive Magazine - April 2021

World Bank/IMF Spring Meetings 2021 Building on the g20 financial inclu- sion action plan endorsed last year, we support the global partnership for financial inclusion’s (gpfi) efforts to identify and address the gaps in fi- nancial inclusion that may have widened during the covid-19 crisis, especially for the most vulnerable and underserved, as well as for micro, small and medium-sized en- terprises. We also welcome the gpfi continued focus on remittances, in- cluding on reducing their transfer costs. We encourage the formulation of a menu of policy options informed by qualitatively robust, and to the fullest extent possible, granular data to help guide the appropriate re- sponse, depending on specific coun- try needs, capabilities, and circumstances, including in the areas of digital financial literacy, consumer protection and financial business conduct, leveraging the opportuni- ties offered by responsible digital fi- nancial services in enhancing financial inclusion, while safeguard- ing from risks. WORLD BANK/IMF SPRING MEETINGS 2021: DEVELOPMENT COMMITTEE COMMUNIQUÉ For betty, please add development committee pic 1. The development committee met virtually today, april 9, 2021. 2.The covid-19 pandemic has caused an unprecedented public health, economic, and social crisis, threatening the lives and livelihoods of millions. The economic shock is increasing poverty, worsening in- equalities, and reversing develop- ment gains. As the global economy begins a gradual recovery, uncer- tainty surrounds near- and medium- term prospects. We call for sustained, differentiated, and targeted financial and technical support for an ade- quate policy response, strong coordi- nation across bilateral and multilateral organizations, and fur- ther support to the private sector. We urge the world bank group (wbg) and the international monetary fund (imf), in line with their respective mandates, to work closely together and with other partners to contain the impacts of the pandemic. We also ask the wbg to continue its sup- port to countries in achieving the twin goals of ending extreme poverty and boosting shared prosperity and to promote green, resilient, and in- clusive development (grid), as well as support for the sdgs. 3. Timely delivery of safe and effec- tive vaccines across all countries is critical to ending the pandemic, es- ISSUE 148 APRIL 2021 the BANKING EXECUTIVE 33