At IMF meetings, Maurer warned of regression in globalization

In his speech at the International Monetary Fund Council (IMF) on Friday, the Swiss Finance Minister stressed that such setbacks would lead to a split in the world community. Agency.

The poorest countries were the focus of this year’s IMF meeting. Maurer called for structural reforms and measures to combat climate change in principle to combat rising debt there. The food supply will be secured for two dozen or so poor countries – plus more credits.

After all, according to Minder, the war in Ukraine after the corona pandemic was another serious global crisis. Supply chains have been disrupted – for example, due to the failure of Ukraine’s grain exports – and world market prices for various commodities exploded.

For this reason, Switzerland also supports an emergency loan for food financing of CHF 50 million. The federal government also announced that it is contributing to a new resilience fund for economic measures to combat climate change.

In addition to the global economy, food and energy shortages pose great risks, according to Maurer’s Federal Finance Department (FDF). Federal Councilors Maurer and Guy Parmelin and National Bank President Thomas Jordan traveled to Washington for Switzerland.

G20 finance ministers and central bank governors held a meeting on Thursday ahead of the IMF’s annual meeting. There, Maurer worked to ensure that legal security of companies was guaranteed in international corporate tax reform, as the FDF said.

At the Washington-based World Bank, like the IMF, Switzerland supports crisis management measures and underlines the importance of investments in sustainable food and energy systems, according to the finance department. The World Bank should mobilize additional funds and work with development actors for challenges such as climate change.

In addition, Switzerland is committed to transparency in debt and the consistent implementation and improvement of Monetary Fund and World Bank instruments.

(SDA)