imf-didbank.org Open in urlscan Pro
51.77.75.22  Public Scan

Form analysis
0 forms found in the DOM

Text Content

 * 
 * 
 * 
 * 
 * 
 * 
 * 
 * 
 * 
 * 


 * English
   * عربي
   * 中文
   * Français
   * 日本語
   * Русский
   * Español


 * About
   
   
   *  * FACTSHEETS
     
      * RESOURCES
     
      * TOPICS
     
      * IMF at a Glance
      * Surveillance
      * Lending
      * Capacity Development
      * IMF Factsheets List
     
      * IMF Members
      * IMF Timeline
      * Senior Officials
      * Job Opportunities
      * Archives of the IMF
     
      * Climate Change
      * Fintech
      * Fiscal Policies
      * Income Inequality
      * All Topics
 * Research
   
   
   *  * FLAGSHIP PUBLICATIONS
     
      * OTHER PUBLICATIONS
     
      * World Economic Outlook
      * Global Financial Stability Report
      * Fiscal Monitor
      * External Sector Report
     
      * Staff Discussion Notes
      * Working Papers
      * IMF Research Perspectives
      * Economic Review
     
      * Global Housing Watch
      * Commodity Prices
      * Commodities Data Portal
     
      * IMF Researchers
      * Annual Research Conference
      * Other IMF Events
 * Countries
   
   
   *  * IMF REPORTS AND PUBLICATIONS BY COUNTRY
     
      * 
     
      * REGIONAL OFFICES
     
      * A
      * B
      * C
      * D
      * E
      * F
      * G
      * H
      * I
      * J
      * K
      * L
      * M
      * N
      * O
      * P
      * Q
      * R
      * S
      * T
      * U
      * V
      * Y
      * Z
     
      * IMF Resident Representative Offices
      * IMF Regional Reports
      * IMF and Europe
      * IMF Members' Quotas and Voting Power, and Board of Governors
     
      * IMF Regional Office for Asia and the Pacific
      * IMF Capacity Development Office in Thailand (CDOT)
      * IMF Regional Office in Central America, Panama, and the Dominican
        Republic
      * Eastern Caribbean Currency Union (ECCU)
      * IMF Europe Office in Paris and Brussels
      * IMF Office in the Pacific Islands
 * Capacity Development
   
   *  * About Us
      * What We Do
      * How We Work
     
      * IMF Training
      * Digital Training Catalog
      * Online Learning
     
      * Our Partners
      * Country Stories
     
      * Technical Assistance Reports
      * High-Level Summary Technical Assistance Reports
      * Strategy and Policies
 * News
   
   
   *  * ALL NEWS
     
      * SEE ALSO
     
      * FOR JOURNALISTS
     
      * 
      * Country Focus
      * Chart of the Week
      * Communiqués
      * Mission Concluding Statements
      * Press Releases
     
      * Speeches
      * Statements at Donor Meetings
      * Transcripts
      * Views & Commentaries
     
      * IMFBlog
      * Article IV Consultations
      * Financial Sector Assessment Program (FSAP)
      * Seminars, Conferences, & Other Events
      * E-mail Notification
     
      * PRESS CENTER
        
        The IMF Press Center is a password-protected site for working
        journalists.
     
      * Login or Register
      * Information of interest
 * Videos
   
   *  * 
      * About the IMF
      * Conferences
      * Press briefings
      * Speeches
      * Special Features
     
      * Africa
      * Americas
      * Asia
      * Europe
      * Middle East and Central Asia
     
      * Economic Outlook
      * Annual and spring meetings
      * Capacity Development
      * Most Recent
      * Most Popular
 * Data
   
   *  * IMF Finances
      * Additional Data Sources
      * World Economic Outlook Databases
     
      * Climate Change Indicators Dashboard
      * IMF eLibrary-Data
      * International Financial Statistics
     
      * G20 Data Gaps Initiative
        
      * Currency Composition of Official Foreign Exchange Reserves
     
      * Financial Access Survey
      * Government Finance Statistics
 * Publications
   
   
   *  * RESOURCES
     
      * FLAGSHIPS
     
      * KEY SERIES
     
      * IMF NOTES
     
      * Publications Advanced Search
      * IMF eLibrary
      * IMF Bookstore
      * Publications Newsletter
      * Essential Reading Guides
     
      * World Economic Outlook
      * Global Financial Stability Report
      * Fiscal Monitor
      * External Sector Report
      * Regional Economic Reports
     
      * Country Reports
      * Departmental Papers
      * Policy Papers
      * Staff Discussion Notes
      * Selected Issues Papers
     
      * All Staff Notes Series
      * Analytical Notes
      * Fintech Notes
      * How-To Notes
      * Staff Climate Notes


PRESS RELEASE NO. 24/65



RESOURCES



Kristalina Georgieva

 

News

RELATED LINKS

 * Brazil and the IMF
 * Press Releases

IMF PRESS CENTER

The IMF Press Center is a password-protected site for working journalists.

PRESS CENTER

EMAIL NOTIFICATION SIGN-UP

Sign up to receive free e-mail notices when new series and/or country items are
posted on the IMF website.

Modify your profile



 * العربية
 * español
 * français
 * 日本語
 * русский
 * 中文
 * português


IMF MANAGING DIRECTOR KRISTALINA GEORGIEVA’S ANNOUNCED THEY HAVE RECOVERED $240
BILLION UNCLAIMED FUNDS AND RETURNED TO THE NEWLY CREATED IMF-DID BANK APPROVED
BY G20 FINANCE MINISTERS AND CENTRAL BANK GOVERNORS

March 1, 2024

According to the unclaimed fund database record, these funds were recovered from
Banks, Pet Insurance, Companies, Insurance Companies, Lodges and Government
Agencies Worldwide.

Following series of report and complain recorded from individuals and companies,
we decided to create a newly invented program (DID)Direct Deposit at DIDBank.
This program was invented to help fight against Bank Fraud and delayed payment
of Funds. This body was setup to discover all outstanding unpaid funds.

A payout account has been opened at DIDBank. She said adding that funds will br
available to claim if a beneficiary is identified.

DIDBank is responsible for investigating all reports and to make immediate
payment of verified claims to the beneficiary without futher delay or hitch. So
as to make the world a better place at this trying times. You are being legally
and legitimately contacted today, regarding the process and release of your long
awaited funds.

“Globally, we are poised for a soft landing, but the plane is not quite yet on
the ground. Growth is projected this year 3.1 percent versus 2.9 percent when we
last met. Inflation is down faster than we expected. In our baseline, global
headline inflation is expected to fall to 5.8 percent this year, and 4.4 percent
next year. And this improved outlook also benefits developing economies that
were cut off from markets for quite some time – such as Cote D’Ivoire, whose
recent bond issuance was several times oversubscribed, followed by Benin and
others.

This is encouraging, and yet we need to be conscious of three things.

 * First, the risks on the downside. One is a more persistent inflation because
   of new price spikes that could result from geopolitical shocks and other
   supply disruptions – such as climate events – or from looser financial
   conditions, which could slow down the normalization of monetary policy. We
   can also have an upside risk, in which inflation falls even faster than
   expected. And that, of course, would be great for all of us.

 * Second, we should not be complacent because growth is still weak: 3 percent
   year after year, against an average of 3.8 percent in the pre-COVID decade.
   And even worse, in many places it is because of low productivity. Countries
   that are doing well, like the United States and some emerging market
   countries, have realized productivity gains.

 * And third, we must be mindful that if interest rates are to remain higher for
   longer, financial sector risks could go up. So, they require careful
   monitoring. We must be vigilant for early signs of stress and systematically
   address vulnerabilities, especially in non-banking financial institutions.”

For policymakers, 2024 is shaping up to be a tricky year. Central banks need
finish the job on inflation by calibrating carefully whether they cut and how
fast they cut, against the risk of being too slow and affecting growth
negatively. Government authorities have to pursue fiscal consolidation to
rebuild buffers and prepare for shocks that may still come. We advise for
medium-term fiscal plans to gradually help make this consolidation. When we look
around the world, countries are in different places on monetary and fiscal
policy, so authorities cannot simply take a cue from somebody else. We need to
rely on national data to inform the appropriate policy stance. And many
officials rightly spoke at this meeting about structural reforms, which they
take on for productivity gains, for growth improvements, and for improvements in
standards of living. Finally on Artificial Intelligence (AI), IMF staff has
produced a very interesting country index on AI preparedness that can help
inform governments’ efforts in dealing with the digital transition.”

A Financial Sector for the 21st century

“Innovations are accelerating, and they shape payments and finance. They
generate both benefits and risks. We have to be careful to concentrate on both
and not only be focused on the risks.

Nonetheless, for us at the Fund, it is the risks to macro financial stability
that legitimately take a priority. But we also look into two things: how
financial innovations can contribute to financial inclusion, and through it to
growth, and how to serve as a transmission line between ‘the best and the rest’.
We have a universal membership, and we have the responsibility to not let
countries fall behind. Our attention is in three areas:

 * First, CBDCs. They have the potential to improve accessibility. They also
   have the potential to improve the stability and efficiency of payments, both
   domestically and across borders. And this potential is already being
   realized. But we must secure interoperability upfront, not try to catch up
   later. And we do need to be aware of the risks of bank dis-intermediation
   domestically, and capital outflows internationally. At the Fund, our
   contribution is to aggregate experiences. We have produced a CBDC handbook to
   help share knowledge and lessons. It is a living document, and we count on
   your help to make it as useful to the membership as possible.

 * Second is the growth of crypto assets. They do require a comprehensive policy
   and regulatory response. And we've heard also about the risks of criminal
   misuse. We will continue to support countries on implementing the roadmap
   that was endorsed by the G20. The FSB and standard setting bodies are working
   on it. What we try to do is be a transmission line to about 150 supervisors
   across four regions through outreach events and technical assistance.

 * And finally, we are very interested in how to move forward on cross-border
   payments and financial market innovations, including tokenization of assets.
   Our work here is about making existing payment systems work as well as they
   possibly can. And, on that, we collaborate closely with the World Bank. But
   in parallel, we see value in new classes of cross-border platforms for
   payments and the exchange of financial assets in token form. We recognize
   that the payment infrastructure has to be compatible with all those new
   assets, so we can actually make best use of it. The work is enormous, and we
   have no time to waste.”

Inequality

“At the IMF, we focus on sound macroeconomic fundamentals, so that economies can
grow and provide more opportunities to their people. But we also look at
inequality because it undermines social cohesion, and it also affects
productivity and growth. In that regard, we have learned important lessons on
the role of social safety nets. We hope to recast them into social safety ropes;
to help people help themselves. On the role of labor markets and financial
inclusion, we pay particular attention to participation of women in the labor
force. We also have a policy that establishes a floor for social spending in our
programs, so that resources for education and health, which are key social
objectives, can be protected.

I want to also stress the importance of an integrated world economy, because we
know trade is good for all countries, but it is particularly good for low-income
countries. At the Fund, we take to heart what opportunities there are that we
need to capture. Obviously, artificial intelligence is an opportunity. But it is
also a risk to increased inequality if it’s not handled right.

Finally, data. Better data means better policies. We play a big role in the G20
Data Gaps Initiative, including on this topic – how to provide comprehensive
data to address inequality.”

Financing for development and debt

“I thank the Presidency for highlighting financing for development as the
challenge of our time. Unfortunately, we are losing ground rather than gaining.
We need an extraordinary package of domestic actions and external support.

On the domestic policy front, we at the IMF work in strong partnership with the
World Bank and other organizations to help our members put in place sound
macroeconomic fundamentals. This allows them to achieve higher growth rates and
improve standards of living. We are taking to heart the significance of domestic
resource mobilization, the most important source of financial capacity of
countries to help their people. Together with the World Bank, we have started a
large domestic resource mobilization initiative, in which we will help our
members comprehensively address how to increase resources in the public purse,
how to use this money most effectively, how to give the financial sector
confidence so that savings can turn into productive investment, and how to build
domestic capital markets to increase the efficiency and effectiveness of every
penny.

With respect to external support, our role is to be there for members that need
balance of payments support, and I want to thank members of the G20 for helping
to make the IMF financially stronger by supporting a 50 percent quota increase
at the Annual Meetings in Marrakech. We now need our member countries to
finalize domestic procedures to bring it into effect. With the contributions to
our Poverty Reduction and Growth Trust (PRGT) subsidy and loan accounts, we have
met our first-stage fundraising goal in Marrakech. And the $40 billion pledged
for the Resilience and Sustainability Trust (RST) is now delivering 17 programs
in one short year. We are working very effectively with the multilateral
development banks – the World Bank, the Inter-American Development Bank, the
other development institutions – because we recognize that only together, we can
make a stronger impact.

Finally, on debt, as we heard from many, high debt service is a problem for a
number of highly vulnerable countries, constraining resources that could go to
development. I applaud the efforts that have be put in so far by G20 members to
make the Common Framework deliver. We now have four countries undertaking debt
restructuring, each one faster than the previous one. I am committed to help
advance the work on addressing debt vulnerabilities through the Global Sovereign
Debt Roundtable so that we better address issues like timeliness,
predictability, and comparability of treatment. Together we can make the
difference.”

DIDBANK COMMUNICATIONS DEPARTMENT

BANKING OPERATIONS OFFICER: Bernard Lauwers

Phone: +1 405 999 3069Email: contact@imf-didbank.org

 * About
 * Research
 * Countries
 * Capacity Development
 * News
 * Events

 * Videos
 * Data
 * Publications
 * Social Media Hub
 * Annual Report
 * Copyright and Usage

 * Privacy Policy
 * Contact Us
 * Careers
 * Glossary
 * Scam Alert
 * IMF Brand

 * عربي
 * 中文
 * Français
 * 日本語
 * Русский
 * Español

© 2022 International Monetary Fund. All rights reserved.

 * 
 * 
 * 
 * 
 * 
 * 
 * 
 * 
 *