Minister Morneau to discuss global coordination at the G7, G20 and the Spring Meetings of the IMF and the World Bank

April 14, 2020 - Ottawa, Ontario - Department of Finance Canada

The world is facing a serious public health and economic crisis. In recent weeks, Canada has taken immediate, significant and decisive action to help Canadians facing hardship as a result of the COVID-19 outbreak and stands ready to do more if needed.

Canada is also working with international partners to discuss global economic and social stability, share information and best practices, and strengthen international coordination in response to the current crisis. In support of these efforts, Minister Morneau will attend the virtual meeting of the G7 Finance Ministers and Central Bank Governors today and the virtual meeting of the G20 Finance Ministers and Central Bank Governors tomorrow. These groups have been meeting regularly over the past weeks to discuss the evolving global impacts of the crisis as well as to develop a G20 action plan in response to COVID-19.

Minister Morneau will also be participating in the virtual 2020 Spring Meetings of the International Monetary Fund (IMF) and World Bank Group (WBG) on April 16 and 17. These meetings include the IMF’s International Monetary and Financial Committee and the joint IMF-World Bank Development Committee. The Minister and his counterparts will discuss the important actions that the IMF and WBG have taken to date to address the needs of member countries in response to the COVID-19 crisis, as well as further actions that can be taken as necessary.