IMF-World Bank Meetings are the Last Stop before a Coming Economic Storm

Ahead of the annual meetings of the International Monetary Fund and World Bank, Lawrence H. Summers and Masood Ahmed implore these institutions to avoid a global economic downturn by addressing the polycrisis: “Challenges ranging from increased interest rates, climate change and an epically strong dollar, to food-supply shortages, high inflation and a still-prevalent pandemic all combine to threaten not just the global economy but also the livelihoods of hundreds of millions.” They propose that the IMF and World Bank ease financial pressures, deal with unsustainable debt, and stay focused on climate change and pandemics.