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This week, the Minister for Finance, Paschal Donohoe TD, will participate in a series of events as part of the 2021 Spring Meetings of the International Monetary Fund (IMF) and the World Bank. Due to the COVID-19 pandemic, the 2021 IMF-World Bank Spring Meetings will be held virtually for the second consecutive year. The Minister will participate in a number of high-profile events, both in his capacity as Ireland’s Governor of the IMF and the World Bank and as President of the Eurogroup.
Today (Tuesday), Minister Donohoe will participate in a meeting of G7 Finance Ministers and Central Bank Governors, in his role as the President of the Eurogroup. The meeting, chaired by the UK Chancellor of the Exchequer, Rishi Sunak, will discuss the global economic recovery, which is one of Minister Donohoe’s priorities as he coordinates economic and fiscal policies among Euro Area Finance Ministers. G7 Finance ministers will also consider how they can contribute to the fight against climate change and loss of biodiversity.
On Thursday, the Minister, in his role as President of Euro Group, will participate and provide the European perspective as a high level panellist at the IMF’s Debate on the Global Economy. He will be joined by Ngozi Okonjo-Iweala, Director General of the World Trade Organization; Jerome Powell, Chairman of the US Federal Reserve; and Kristalina Georgieva, Managing Director of IMF to discuss the policy challenges associated with the COVID-19 crisis and the prospects for recovery. On Friday, he will attend a closed-door meeting with European policy-makers, also hosted by the IMF Managing Director, to exchange views on the policy challenges currently facing Advanced Economies in Europe.

Speaking in advance of these meetings, the Minister said:

I always look forward to participating in the Spring Meetings of the IMF and the World Bank, as well as the G7. Now more than ever, the global nature of the pandemic reminds us of the importance of multilateralism as coordinated international action is vital to ensure a timely and effective response to the challenges that we all now face. We must continue to use our collective voices at the IMF and the World Bank to ensure an inclusive, sustainable and equitable recovery for all our people.

ENDS

Note to Editors:

The Managing Director of the IMF, Ms. Kristalina Georgieva stated last week that while the global economy is on a firmer footing, she noted that economic fortunes are diverging.
“Vaccines are not yet available to everyone and everywhere. Too many people continue to face job losses and rising poverty. Too many countries are falling behind. We must not let our guard down. What we do now will shape the post-crisis world. So we must do the right thing. This means, above all, giving everyone a fair shot—a shot in the arm, everywhere, to bring the pandemic to a durable end; and a shot at a better future for vulnerable people and vulnerable countries to pave the way to inclusive and sustainable recovery”.