The International Monetary Fund (IMF) has announced it is to hold "virtual" meetings as a precaution due to the coronavirus.

It is due to hold its spring meetings in Washington, DC with the World Bank for several days in April.

But IMF managing director Kristalina Georgieva says: "Like everyone else around the world, we have been deeply concerned by the evolving situation of the coronavirus and the human tragedy surrounding it.

"Given growing health concerns related to the virus, the management of the IMF and World Bank Group and their executive boards have agreed to implement a joint plan to adapt the 2020 IMF-World Bank Spring Meetings to a virtual format.

"Our goal is to serve our membership effectively while ensuring the health and safety of spring meetings participants and staff.

"We remain fully committed to maintaining a productive dialogue with our stakeholders and will leverage our IT-related and virtual connection capabilities to the fullest to hold our essential policy consultations with the membership.

"We will also continue to share IMF and World Bank analyses.

"With this adapted format, we are confident that our member countries will be able to effectively engage on pressing global economic issues at these spring meetings."

The spring meetings will feature a development committee and the International Monetary and Financial Committee plenary sessions - which discuss progress on the work of the institutions.

The IMF also organises and hosts a number of related meetings of groups of country delegations - such as the G20, G24, Commonwealth and BRICS.

Ireland joined the IMF in August 1957 - although the IMF resident representative office closed in 2014.

In November 2010, the Irish government sought help from the European Union and the IMF to the tune of €64bn following the banking crisis.