IMF, World Bank say "ready to help" member countries address COVID-19


WASHINGTON -- The International Monetary Fund (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, the two multilateral institutions said in a joint statement Monday.
"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," the statement read.
"We will use our available instruments to the fullest extent possible, including emergency financing, policy advice, and technical assistance," the statement read. "In particular, we have rapid financing facilities that, collectively, can help countries respond to a wide range of needs."
The two multilateral institutions noted that international cooperation is "essential" to deal with the health and economic impact of the COVID-19 virus.
- Record-low rainfall triggers early diversion projects in Gansu
- Zhejiang offers subsidies for smart device purchases
- Beijing court praised for arbitration efforts
- Tea Day event brews global cultural exchange in Beijing
- Sichuan official faces probe for suspected discipline and law violations
- China invites overseas payload proposals for Mars sample return mission