Finance Secretary Benjamin Diokno called on the World Bank Group and the International Monetary Fund to continue supporting emerging markets and developing economies in their battle against multiple global crises.
Diokno made the statement during his intervention at the 2023 Intergovernmental Group of Twenty-Four Ministerial Meeting on April 11, 2023 in Washington D.C.
“The polycrisis we’re facing threatens to reverse the years of progress we’ve made towards poverty reduction and shared prosperity. Together, we must be decisive in tackling these challenges,” he said.
The Intergovernmental Group of Twenty-Four on International Monetary Affairs and Development coordinates the position of developing countries on monetary and development issues in the deliberations and decisions of the Bretton Woods institutions.
The Ministerial Meeting, with the theme “Securing Sustainable and Inclusive Growth Amidst Emerging Challenges,” served as a platform to discuss key areas that need expanded support from the multilateral finance system.