As the steering committee for both the International Monetary Fund (IMF) and the World Bank met to discuss reforms addressing climate change and other challenges, they emphasized the importance of broader accountability. Mohammed bin Hadi Al Husseini, the United Arab Emirates’ minister of state for finance and head of the joint Development Committee, stated that increased accountability is necessary as the institutions continue to grow.
Al Husseini issued a chair’s statement instead of a communique, highlighting economic risks posed by conflicts in the Middle East and Ukraine. This statement was made as the meetings of the IMF and World Bank came to an end. Governors of the institutions urged the World Bank to strengthen global and regional partnerships and continue with country engagement reforms and enhanced country diagnostics.
The emphasis was on working together to provide support for countries facing various challenges. The steering committee also called for increased collaboration between the World Bank and IMF to help countries increase domestic revenues and address issues such as climate change, pandemic preparedness, and debt sustainability.
