[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-110005-en":3,"doc-seo-110005-105":30,"detail-sidebar-cat-0-en-105":91},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":21,"is_downloadable":21,"audit_status":21,"page_count":20,"language":22,"language_code":23,"site_id":24,"html_lang":23,"table_of_contents":25,"faqs":26,"seo_title":27,"seo_description":14,"update_tm":28,"read_time":29},110005,13056703020460,"Valentina","https://ap-avatar.wpscdn.com/avatar/be000253dac470eee5d?_k=1778207105932848923",8,"Research & Report","Financial Sector Policy Responses to COVID-19 - Statement - April 17, 2020","Statement by Abdulrahman Al-Hamidy, Director General Chairman of the Board of the Arab Monetary Fund, delivered at the 101st Meeting of the Development Committee (virtual) on April 17, 2020, in Washington, DC. The speech addresses COVID-19’s economic and financial challenges across the Arab region, including health-driven disruption, tighter global financial conditions, reduced capital flows, and risks to liquidity and defaults. It outlines policy and proactive measures for banks, regulators, and technology-enabled support for households, MSMEs, and the financial system’s stability.","Public Disclosure Authorized  \nPublic Disclosure Authorized  \n# DEVELOPMENT COMMITTEE\n\n(Joint Ministerial Committeeof the  \nBoards of Governors of the Bank and the Fundon theTransfer of Real Resources to Developing Countries)  \nONE HUNDRED AND ONE MEETINGWASHINGTON,DC-APRIL17,2020(VIRTUAL)  \nStatement by  \nAbdulrahman Al-HamidyDirector General Chairman of the BoardArab Monetary Fund  \nDC/S/2020-0001  \nApril 17,2020  \n# صندوق النقد العربيARAB MONETARY FUND\n\nStatement by  \nAbdulrahman Al-HamidyDirector General Chairman of the Board  \n101stMeeting of the Development Committee  \nApril 17,2020  \nWashington,DC  \n(VIRTUAL)  \n# “Financial Sector Policy Responses to COVID-19”\n\nIt gives me a great pleasure to attend this meeting of the Development Committee in my capacity as anobserver member and,on behalf of the Arab Monetary Fund(AMF),I would like to express my sincerethanks and gratitude to the World Bank for the kind invitation.My special appreciation goes also to theorganizers for having set the appropriate arrangements to maintain and hold this important meeting underthe particular circumstance of global COVID-19 pandemic,which has taken the world by surprise and posessignificant challenges to all economies across the globe.  \nThis unforeseen situation has put national leaders and global bodies under additional pressures to,firstlystopping and addressing the extremely rapid spread of coronavirus,and secondly to fighting the forecastedsubstantial economic impact.In this regard,I would like to direct my statement at this time towardseconomic and financial challenges originated by the critical COVID-19 pandemic,where we should all befocused on,as the virus may in fact be as contagious economically as it is medically.  \nIndeed,the COVID-19 pandemic continues to scramble across the globe,with the epicentre having movedfrom one region to another,with a foremost risk for another massive move towards the rest of the world.Beyond the devastating toll on human health,the COVID-19 pandemic is expected to cause,significanteconomic turmoil across the Arab region through simultaneous shocks;as the very measures that are crucialto slowing the spread of the virus will likely to have a direct costs on local economies.The disruption topeople's daily lives means less income,less spending,and fewer jobs,and with borders closed,travel andtourism are quickly drying up,and shipping and trade are suffering.  \nMoreover,tighter global financial conditions willlimit access to finance and countries are more likely toalso see delays in getting investment or development projects off the ground.Indeed,the rise in global riskaversion and capital flight to safe assets have led to a decline in portfolio flows into the Arab region by near$2 billion since mid-February,with significant outflows observed in recent weeks,coupled with fallingshare prices and rising bond spreads.Such a tightening in financial conditions is likely to prove to be amajor challenge and the intertwined shocks are expected to impact economic activity in the region,at least  \nin the first half of this year;with that in mind,additional challenges are expected to be faced by the financialsystem.  \nIn response to the above challenges,what options do Arab countries have to maintain the financial healthof their societies and economies?what risk-response options do they have at their disposal to protect peoplefrom mass defaults?financial institutions from drying up liquidity?and MSMEs from financial exclusion?In the midst of this rapid development,how can technology help?  \nGlobally,a range ofrisk-responses have been implemented by central banks and the wider financial servicesindustry including fiscal stimulus measures,interest rate cuts,liquidity measures,and relaxation of capitalrules to soften the impact of COVID-19.However,the attention will turn to effective economic recoverylater this spring and early summer where there will be a clearer picture of the magnitude of the losses in thefinancial s","cbCaiqYwkP4zJJTe","https://ap.wps.com/l/cbCaiqYwkP4zJJTe","pdf",1065979,4,1,"English","en",105,"# “Financial Sector Policy Responses to COVID-19”\n## Global economic and financial impacts of COVID-19\n## Options for Arab countries and risk-response measures\n## Role of banks, coordination, and essential financial services\n## Proactive measures are needed","[{\"question\":\"What main economic and financial shocks does COVID-19 create for the Arab region, according to the statement?\",\"answer\":\"The statement highlights disruption to daily life leading to less income, spending, and jobs, along with trade and travel drying up. It also points to tighter global financial conditions, declining portfolio flows, and higher bond spreads that pressure economic activity and the financial system.\"},{\"question\":\"What options and risk-response measures are discussed for protecting people and the financial system?\",\"answer\":\"The statement refers to fiscal stimulus, interest-rate cuts, liquidity measures, and relaxing capital rules to soften COVID-19 impacts. It also asks how Arab countries can respond to risks of mass defaults, liquidity drying up, and financial exclusion, including how technology can help.\"},{\"question\":\"How does the statement describe the role of banks and regulators in the response?\",\"answer\":\"It emphasizes that banks are not the source of the problem but part of the solution through essential services like cash/deposit, credit extension, payments, and market making. Regulatory risk-responses should keep capital resources within the banking system to support lending to the real economy and help other stressed financial segments.\"}]","Financial Sector Policy Responses to COVID-19 - Statement - April 17, 2020 | PDF",1784483420,10,{"code":4,"msg":31,"data":32},"ok",{"site_id":24,"language":23,"slug":33,"title":13,"keywords":34,"description":14,"schema_data":35,"social_meta":86,"head_meta":88,"extra_data":90,"updated_unix":28},"financial-sector-policy-responses-to-covid-19-statement-april-17-2020","",{"@graph":36,"@context":85},[37,53,68],{"@type":38,"itemListElement":39},"BreadcrumbList",[40,44,48,51],{"item":41,"name":42,"@type":43,"position":21},"https://docshare.wps.com","Home","ListItem",{"item":45,"name":46,"@type":43,"position":47},"https://docshare.wps.com/document/","Document",2,{"item":49,"name":12,"@type":43,"position":50},"https://docshare.wps.com/document/research-report/",3,{"item":52,"name":13,"@type":43,"position":20},"https://docshare.wps.com/document/financial-sector-policy-responses-to-covid-19-statement-april-17-2020/110005/",{"url":52,"name":13,"@type":54,"author":55,"headline":13,"publisher":57,"fileFormat":60,"inLanguage":23,"description":14,"dateModified":61,"datePublished":62,"encodingFormat":60,"isAccessibleForFree":63,"interactionStatistic":64},"DigitalDocument",{"name":9,"@type":56},"Person",{"url":41,"name":58,"@type":59},"DocShare","Organization","application/pdf","2026-07-29","2026-07-19",true,{"@type":65,"interactionType":66,"userInteractionCount":20},"InteractionCounter",{"@type":67},"ViewAction",{"@type":69,"mainEntity":70},"FAQPage",[71,77,81],{"name":72,"@type":73,"acceptedAnswer":74},"What main economic and financial shocks does COVID-19 create for the Arab region, according to the statement?","Question",{"text":75,"@type":76},"The statement highlights disruption to daily life leading to less income, spending, and jobs, along with trade and travel drying up. It also points to tighter global financial conditions, declining portfolio flows, and higher bond spreads that pressure economic activity and the financial system.","Answer",{"name":78,"@type":73,"acceptedAnswer":79},"What options and risk-response measures are discussed for protecting people and the financial system?",{"text":80,"@type":76},"The statement refers to fiscal stimulus, interest-rate cuts, liquidity measures, and relaxing capital rules to soften COVID-19 impacts. It also asks how Arab countries can respond to risks of mass defaults, liquidity drying up, and financial exclusion, including how technology can help.",{"name":82,"@type":73,"acceptedAnswer":83},"How does the statement describe the role of banks and regulators in the response?",{"text":84,"@type":76},"It emphasizes that banks are not the source of the problem but part of the solution through essential services like cash/deposit, credit extension, payments, and market making. Regulatory risk-responses should keep capital resources within the banking system to support lending to the real economy and help other stressed financial segments.","https://schema.org",{"og:url":52,"og:type":87,"og:title":13,"og:site_name":58,"og:description":14},"article",{"robots":89,"canonical":52},"index,follow",{"doc_id":7,"site_id":24},{"code":4,"msg":5,"data":92},[93,97,101,105,110,115,120,123,128,131,134],{"id":21,"doc_module":4,"doc_module_name":46,"category_name":94,"show_sort_weight":95,"slug":96},"Story & Novel",90,"story-novel",{"id":47,"doc_module":4,"doc_module_name":46,"category_name":98,"show_sort_weight":99,"slug":100},"Literature",80,"literature",{"id":20,"doc_module":4,"doc_module_name":46,"category_name":102,"show_sort_weight":103,"slug":104},"Exam",70,"exam",{"id":106,"doc_module":4,"doc_module_name":46,"category_name":107,"show_sort_weight":108,"slug":109},5,"Comic",60,"comic",{"id":111,"doc_module":4,"doc_module_name":46,"category_name":112,"show_sort_weight":113,"slug":114},6,"Technology",50,"technology",{"id":116,"doc_module":4,"doc_module_name":46,"category_name":117,"show_sort_weight":118,"slug":119},7,"Healthcare",40,"healthcare",{"id":11,"doc_module":4,"doc_module_name":46,"category_name":12,"show_sort_weight":121,"slug":122},30,"research-report",{"id":124,"doc_module":4,"doc_module_name":46,"category_name":125,"show_sort_weight":126,"slug":127},9,"Religion & Spirituality",20,"religion-spirituality",{"id":126,"doc_module":4,"doc_module_name":46,"category_name":129,"show_sort_weight":126,"slug":130},"World Cup","world-cup",{"id":29,"doc_module":4,"doc_module_name":46,"category_name":132,"show_sort_weight":29,"slug":133},"Lifestyle","lifestyle",{"id":135,"doc_module":4,"doc_module_name":46,"category_name":136,"show_sort_weight":106,"slug":137},19,"General","general"]