Emphasizing Accountability: Addressing Climate Change and Other Challenges with the IMF and World Bank.

As the International Monetary Fund and the World Bank implement reforms to address climate change and other challenges, accountability remains a crucial component of their efforts. This was emphasized by Mohammed bin Hadi Al Husseini, who leads the joint Development Committee this year and is also the United Arab Emirates’ minister of state for finance.

Al Husseini issued a chair’s statement rather than a communique amidst discussions on conflicts in the Middle East and Ukraine. He acknowledged the economic risks posed by these conflicts as the meetings of the IMF and World Bank came to a close. Governors of the institutions called on the World Bank to strengthen global and regional partnerships, encouraging its management to continue country engagement reforms and improved country diagnostics.

The focus on accountability and collaboration underscores the commitment of these institutions to supporting countries in navigating current challenges and driving sustainable development. There was also a push for increased collaboration between the World Bank and IMF to support countries in generating more revenue domestically and addressing issues such as climate change, pandemic preparedness, and debt sustainability.