Due to concerns related to COVID-19, the World Bank Group and International Monetary Fund (IMF) have announced that the 2020 Spring Meetings scheduled to hold between April 13 and 19 will now transition to a virtual format.
Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), and David Malpass, President of the World Bank Group, announced this in a statement issued on Tuesday night.
“Like everyone else around the world, we have been deeply concerned by the evolving situation of the Coronavirus and the human tragedy surrounding it.
“Given growing health concerns related to the virus, the Management of the IMF and World Bank Group and their Executive Boards have agreed to implement a joint plan to adapt the 2020 IMF-World Bank Spring Meetings to a virtual format.
“Our goal is to serve our membership effectively while ensuring the health and safety of Spring Meetings participants and staff,” they noted in the press statement.
“We remain fully committed to maintaining a productive dialogue with our stakeholders and will leverage our IT-related and virtual connection capabilities to the fullest to hold our essential policy consultations with the membership.
“We will also continue to share IMF and World Bank analyses. With this adapted format, we are confident that our member countries will be able to effectively engage on pressing global economic issues at these Spring Meetings.”
During the annual Spring Meetings, the joint World Bank-IMF Development Committee and the IMF’s International Monetary and Financial Committee hold meetings to discuss progress on the work of the World Bank and International Monetary Fund.
Also featured are seminars, regional briefings and press conferences, focused on the global economy, international development, and the world’s financial markets.
The two Bretton Woods institutions have also been communicating with delegates who have already scheduled to attend the meeting.
Such mail to a BusinessDay staff read: “Dear Participant, Our records indicate that you have recently registered, or applied to register, for the 2020 IMF-World Bank Group Spring Meetings. Given growing health concerns related to the COVID-19, the IMF and World Bank Group have agreed to adapt the 2020 IMF-World Bank Group Spring Meetings to virtual format, to avoid a large-scale gathering.
Our overriding priority is to ensure the health and safety of Spring Meetings participants and staff.
“This means that registration for all categories of participants (Delegates, Observers, Guests, Press, and CSOs) is now suspended. All previous confirmations will be cancelled.
“Official delegates who will participate in the official sessions will receive further instructions from the Secretary and from the office of their Executive Director of the respective institution.
“Be assured that we remain fully committed to maintaining a continuous dialogue with our stakeholders and we will leverage our IT-related and virtual connection capabilities to the fullest to hold our essential policy consultations with the membership.
“We will also continue to share IMF and World Bank analysis. As in the past, information regarding the IMFC and DC will be posted on IMF Connect and IMF.org.
“Our flagship publications – the World Economic Outlook, the Global Financial Stability Report, and the Fiscal Monitor – will be released on time, through virtual press conferences.
Onyinye Nwachukwu, Abuja
