Switzerland signs IMF deal to support lower-income countries
Parmelin signed the deal on Friday in Washington, where he was attending meetings of the World Bank and IMF together with delegates including US Treasury Secretary Janet Yellen.
KEYSTONE/The Associated Press
Economics Minister Guy Parmelin has signed a partnership agreement that will see Switzerland contribute around CHF10 million ($11 million) to the Global Partnership in Public Finance (GPFP) initiative of the International Monetary Fund.
This content was published on
2 minutes
Keystone-SDA
Launched in 2023, the GPFP is a cornerstone of the IMF’s efforts to help developing and emerging countries in particular build strong financial policies and create collective resilience.
The Swiss contribution to the GPFP will enable the Fund to help its emerging and low-income member countries achieve their economic and development goals in a challenging fiscal environment, said Gita Gopinath, first deputy managing director of the IMF, at the signing ceremony in Washington. Switzerland is one of the five most important donor countries for IMF capacity-building.
Parmelin took part in the World Bank’s plenary meeting in Washington on Friday. He reaffirmed Switzerland’s role in promoting sustainable and inclusive initiatives to reduce global poverty.
The minister also emphasised the importance of international cooperation in tackling global challenges. For example, the World Bank’s International Finance Corporation (IFC) can significantly promote economic growth and job creation through its support for the private sector.
In addition to Finance Minister Karin Keller-Suter and Parmelin, the outgoing director of the Swiss National Bank, Thomas Jordan, also took part in this year’s IMF/World Bank spring meetings this week.
Translated from German by DeepL/gw
This news story has been written and carefully fact-checked by an external editorial team. At SWI swissinfo.ch we select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate it into English. Providing you with automatically translated news gives us the time to write more in-depth articles.
If you want to know more about how we work, have a look here, and if you have feedback on this news story please write to english@swissinfo.ch.
External Content
Your subscription could not be saved. Please try again.
Almost finished… We need to confirm your email address. To complete the subscription process, please click the link in the email we just sent you.
Popular Stories
More
Swiss Abroad
How centuries of Swiss emigrants left their mark on the US
Bodycams: essential for good law enforcement, or a privacy risk?
Did you ever come across bodycams in your place of residence and if so, how do you think the use of bodycams alter the relationship between the public and (transport) police?
This content was published on
Swiss wheelchair racer Catherine Debrunner won the 5,000 metres to bring home Switzerland’s first gold medal at the Paralympics in Paris.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.