IMF, World Bank Team-up Offering Help to Coronavirus-hit Countries

Published March 3rd, 2020 - 08:30 GMT
IMF, World Bank Team-up Offering Help to Coronavirus-hit Countries
“The IMF and the World Bank Group stand ready to help our member countries address the human tragedy and economic challenge posed by the COVID-19 virus. (Shutterstock)
Highlights
The strengthening of country health surveillance and response systems is crucial to contain the spread of this and any future outbreaks, the statement said.

The International Monetary Fund (IMF) and the World Bank Group have said that international cooperation is essential to deal with the health and economic impact of the COVID-19 virus while offering help to affected countries.

“The IMF and the World Bank Group stand ready to help our member countries address the human tragedy and economic challenge posed by the COVID-19 virus. We are engaged actively with international institutions and country authorities, with special attention to poor countries where health systems are the weakest and people are most vulnerable," said a joint statement from IMF Managing Director Kristalina Georgieva and President of world Bank Group David Malpass.

"We will use our available instruments to the fullest extent possible, including emergency financing, policy advice, and technical assistance. In particular, we have rapid financing facilities that, collectively, can help countries respond to a wide range of needs," they said. 

The strengthening of country health surveillance and response systems is crucial to contain the spread of this and any future outbreaks, the statement said.

"International cooperation is essential to deal with the health and economic impact of the COVID-19 virus. The IMF and the World Bank Group are fully committed to provide the support that people in our member countries expect from us,” they added.


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