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IMF, World Bank to step up cooperation on climate, debt, digital transition

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The International Monetary Fund and World Bank on Thursday issued a rare joint statement pledging to step up their cooperation to address climate change, debt vulnerabilities and countries' digital transitions. The statement, released ahead of a G20 leaders summit in India this week, said the two institutions can help address mounting challenges facing the global economy - from increasing climate disasters to slowing growth and geopolitical fragmentation - by working together. 'The Bretton Woods institutions, with their universal membership and specialist expertise, are well-placed to make a critical contribution to help countries tackle these challenges,' IMF Managing Director Kristalina Georgieva and World Bank President Ajay Banga said in the joint statement.

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