Switzerland at 2023 IMF and World Bank Spring Meetings and G20 Finance Ministers Meeting in Washington
Bern, 05.04.2023 - Federal Councillors Karin Keller-Suter* and Ignazio Cassis, together with Swiss National Bank Chairman Thomas Jordan, will attend the Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) in Washington from 12 to 14 April 2023. A meeting of the G20 finance ministers and central bank governors will also take place during the Spring Meetings.
Global economic and development policy challenges and their management are on the agenda for the IMF and WBG meetings. Topics include financial sector turbulence, combating high inflation, cushioning the impact of the war in Ukraine and reducing the risk of overindebtedness in emerging market and developing economies. The participants will also discuss how to address global problems such as climate change, fragility and pandemics.
Switzerland will present its latest measures to preserve financial stability. Moreover, it will advocate in the IMF for monetary, fiscal and economic policies that foster sustainable growth. This also includes its ongoing commitment to sustainable and transparent sovereign debt. In addition, Switzerland will speak in favour of more sustainability in the financial sector, as well an open economic exchange with clear, predictable rules. It will underscore its financial commitment to vulnerable and low-income countries, such as its CHF 50 million contribution to the IMF Poverty Reduction and Growth Trust.
Within the WBG, Switzerland is supporting reforms aimed at driving forward the management of global challenges such as climate change, fragility and pandemics. Poverty reduction and the fostering of common prosperity can succeed only if these challenges are tackled effectively. This will require adjustments to the WBG's mandate, working methods and financial capacities, as well as coordinated action with other development organisations. A first package of measures should be adopted at the Spring Meetings.
In addition, Switzerland will participate in a ministerial meeting on Ukraine, and welcomes the WBG's and IMF's commitment to ensuring the country's economic stabilisation, including as regards reconstruction. Switzerland is also strengthening its partnership with the WBG by signing up to projects in support of Ukraine and the efficient use of taxpayers' money.
* Karin Keller-Suter's attendance is subject to her commitments in the extraordinary session of Parliament.
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