Switzerland at IMF and World Bank Annual Meetings and G20 Finance Ministers Meeting in Washington

Bern, 11.10.2022 - From 12 to 14 October 2022, Federal Councillor Ueli Maurer, Federal Councillor Guy Parmelin and Thomas Jordan, Chairman of the Governing Board of the Swiss National Bank, will attend the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group in Washington. A meeting of the G20 finance ministers and central bank governors will take place in the run-up to the Annual Meetings.

The meetings will focus on the global economic challenges and the resulting need for action. The impact of the war in Ukraine and the ongoing inflation trend are hampering the global economic recovery, leading to setbacks in poverty reduction and exacerbating the debt situation of many countries. At the same time, food and energy shortages and climate change carry huge risks.

Within the IMF, Switzerland supports a food shock financing window in particular. It has also mooted a contribution to a new Resilience and Sustainability Trust, which is aimed at promoting economic policy measures to combat climate change.

Switzerland likewise supports the World Bank's crisis management measures and stresses the importance of investing in sustainable food and energy systems. It is advocating that the World Bank mobilise additional funds to deal with global challenges such as climate change, in close coordination with other development organisations.

In order to guarantee debt sustainability in low-income countries, Switzerland is continuing its efforts in all relevant bodies to ensure debt transparency and the consistent use and improvement of IMF and World Bank tools.

Switzerland is committed to moderation in expenditure policy and will use the G20 meetings to speak in favour of legal certainty being guaranteed for the affected companies when implementing taxation of the digital economy.

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