The Inter-American Development Bank assembly took place during the first week of April in Nassau, Bahamas. This year the meeting discussed the regional economic situation, the impact of climate change and energy investment. Luis Alberto Moreno, president of the bank, said in a statement "the backlog of reforms is daunting, and the short-term challenges are great, but this is not the time to hesitate, it is time to seize the initiative". The IDB report recommended countries to make the necessary fiscal adjustments soon and to re-balance public spending to productivity-boosting investments such as modernizing infrastructure.