The steering committee for both the International Monetary Fund and the World Bank highlighted the importance of broader accountability as they implemented reforms to address climate change and other challenges. Mohammed bin Hadi Al Husseini, the United Arab Emirates’ minister of state for finance and head of the joint Development Committee, emphasized this need for increased accountability as the institutions grow.
During the meetings of the IMF and World Bank, Al Husseini issued a chair’s statement instead of a communique, highlighting economic risks posed by conflicts in the Middle East and Ukraine. Governors of the institutions urged the World Bank to strengthen global and regional partnerships and continue with country engagement reforms and enhanced country diagnostics.
The emphasis was on working together to provide support for countries facing various challenges, including pandemic preparedness, debt sustainability, and climate change. The institutions called for increased collaboration between them to help countries increase domestic revenues and address these issues effectively.