This year's annual meetings will take place in Morocco where the two bodies will also seek to continue supporting emerging markets, including African nations.
The World Bank and International Monetary Fund will tackle the thorny issue of institutional reform at their upcoming annual meetings in Morocco next week.
The IMF is locked in negotiations to raise funding levels through an increase in the quotas paid by member countries. The Fund is also looking to replenish popular concessionary lending facilities for low- and middle-income countries which have been exhausted by the pandemic and the Since taking office, Banga has indicated he plans to reform the bank's current twin mandate of poverty alleviation and boosting shared prosperity to include climate crisis.
This would mark a significant increase for the development lender, which mobilised just over $100 billion in financing last year. During the IMF and World Bank's spring meetings in April, IMF chief Georgieva said that around 15 percent of low-income countries were already in debt distress, and"an additional 45 percent are near it."
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