From left to right: Zhu Min, Deputy Managing Director of the International Monetary Fund (IMF), Haruhiko Kuroda, Governor of the Bank of Japan (BOJ), Christine Lagarde, President of the European Central Bank (ECB), Steven Mnuchin, USA Finance Minister Olaf Scholz, Federal Minister of Finance, and Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), will be attending a panel discussion on the final day of the World Economic Forum (WEF) in Davos on Friday, January 1st, 2020.

Bloomberg

The World Economic Forum announced on Monday that it had canceled a summer version of its annual meetings that were supposed to be held in Singapore.

“Unfortunately, the tragic circumstances in the various regions, the uncertain travel prospects, the different speeds at which vaccinations are introduced and the uncertainty about new variants make it impossible to hold a global meeting with business, government and civil society executives from around the world on the planned scale “said the organization in a statement.

The event, attended by politicians and business leaders from around the world, has already been postponed twice and moved from its usual location in Davos, Switzerland to Singapore.

The WEF announced on Monday that the meeting will instead take place in the first half of 2022. The final place and date will be determined later this year. Klaus Schwab, founder and CEO of the WEF, called it a difficult decision.

“Ultimately, the health and safety of everyone involved is our top priority,” he said in the statement.

Covid-19 cases in Singapore have risen in the past few days. In a preliminary update on Monday, the Singapore Ministry of Health said it had confirmed an additional 21 locally transmitted infections, 11 of which were not linked to previous cases. The cumulative Covid cases in Singapore lead to more than 61,600 and 31 deaths, data from the Ministry of Health showed.

In a broader sense, concerns about a new variant of the virus, first discovered in India, have grown worldwide. Countries like the UK are carefully monitoring the data, despite a very successful vaccination program, to see how transmissible the new strain is and whether it will disrupt plans to fully reopen the economy.

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