Follow TheCable for updates from first virtual IMF/World Bank Spring meetings

In the midst of a global health and economic crisis caused by the COVID-19 pandemic, the International Monetary Fund (IMF) and World Bank Group will hold the 2020 edition of its annual Spring meetings virtually.

This is the first Spring meetings to be held virtually and world leaders would be looking to both Bretton Wood institutions for insights, projections on how to salvage their respective economies.

Already, 25 countries have been granted debt relief by the IMF with another 65 still waiting for interventions.

A constant message that has been echoed by international agencies is the need for cross-country collaboration and this was shown in the recent deal by the Organisation of Petroleum Exporting Countries and its allies.

In a rare validation of OPEC activities by the Donald Trump-led administration, US oil producers agreed to take on 300,000 barrels per day out of the 400,000 barrels quota assigned to Mexico.

Here are the activities scheduled to hold virtually during the course of the week.

Tuesday

Gita Gopinath, IMF chief economist and director of the research department, will unveil the world economic outlook.

Tobias Adrian, IMF financial counsellor and director of the monetary and capital markets department, will also unveil the global financial stability report.

Both reports would contain recommendations and projections for the global economy.

Wednesday

Abebe Selassie, director of IMF African department, will unveil the Sub-Saharan regional economic outlook.

Vitor Gaspar, director of IMF fiscal affairs department, will also unveil the fiscal monitor.

Later in the day, Kristalina Georgieva, the IMF managing director, will hold a press briefing to give an insight into the action plan of the global lender.

Thursday

Zainab Ahmed, Nigeria’s minister of finance, budget and national planning, will join other members of the International Monetary and Financial Committee

Friday

The development committee of the IMF, which consists of the joint ministerial committee of the boards of governors of the bank and the fund, will hold a meeting to discuss development issues facing clients.

David Malpass, president of the World Bank, will address the press.