Africa: The IMF and World Bank call for more support amidst Ukraine crisis

By Yara Rizk
Posted on Monday, 25 April 2022 10:06

David Malpass and Kristalina Georgieva at the World Bank headquarters in Washington, D.C., US, on 19 April 2022. © Lenin Nolly/EFE/SIPA
David Malpass and Kristalina Georgieva at the World Bank headquarters in Washington, D.C., US, on 19 April 2022. © Lenin Nolly/EFE/SIPA

"Meeting the challenges of growth, security and stability" was the theme of the spring meetings of the World Bank and International Monetary Fund (IMF) that took place semi-virtually in Washington DC from 18-24 April. Although the international economic crisis poses a major challenge, the two international institutions are committed to providing the necessary funds.

“We are preparing for an ongoing response, given the multiple crises,” said World Bank president David Malpass.

In the coming weeks, the World Bank Group president said he “plans to discuss with his board a new 15-month package worth about $170bn that will cover April 2022 to June 2023,” adding that the aim is to “commit about $50bn of that amount within the next three months.”