IMF, World Bank say ready to address economic challenges of coronavirus

The International Monetary Fund and the World Bank on Monday said they stood ready to help member countries address the human and economic challenges of the fast-spreading coronavirus outbreak, including through emergency funding.

In a joint statement, the two institutions said they were focused especially on poor countries where health systems are weakest and urged member countries to strengthen health surveillance and response systems to contain the spread of the virus.

"International cooperation is essential to deal with the health and economic impact of the COVID-19 virus," the statement said, referring to the acronym for the virus.