International Cooperation Minister Rania el Mashat starts a visit to Washington Monday to attend the 2022 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG), which will start today and run until October 16.

The annual meetings of the two biggest financial institutions are taking place at an exceptional time, especially that the Russia-Ukraine war, in all its dimensions, is producing alarming cascading effects to a world economy already battered by COVID-19, the ministry said in a statement on Monday.

Further complicating these global development challenges are the effects of the high food, fuel, and fertilizer prices rippling through the supply chains of an interconnected world, creating global disruptions, added the statement.

The annual meetings of the IMF and the WBG will discuss crises which are facing development-related efforts along with creating the conditions necessary to avoid their recurrence going forward, according to the statement.

The statement also said that Mashat will attend a host of events, including the Intergovernmental G24 Ministers and Governors Meeting.

The minister will also attend a joint workshop that will be organized by the Organization for Economic Cooperation and Development (OECD) and in cooperation with the Nationally Determined Contribution (NDC).

Mashat will also a keynote speaker in a discussion panel that will be held by the IMF on ways to advance the overall development in the Middle East and North Africa.

Source: State Information Service Egypt