[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-109987-en":3,"doc-seo-109987-105":30,"detail-sidebar-cat-0-en-105":90},{"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":22,"language":23,"language_code":24,"site_id":25,"html_lang":24,"table_of_contents":26,"faqs":27,"seo_title":28,"seo_description":14,"update_tm":29,"read_time":11},109987,1099514068365,"Aurelia","https://ap-avatar.wpscdn.com/avatar/10000253d8d9f28188e?_k=1776742907772140068",8,"Research & Report","Statement by Ignazio Visco - 101st Meeting of the Development Committee - April 17, 2020","Statement by Ignazio Visco to the Development Committee at its 101st meeting, delivered in a virtual format on April 17, 2020. It describes the COVID-19 crisis as unprecedented in speed, diffusion, and depth, with major impacts on social life, the real economy, and financial stability. It argues for coordinated national and global action, stronger social protection, support for health systems, firms and workers, preservation of productive capacity, and international cooperation for medical research and supply-chain continuity.","Public Disclosure Authorized Public Disclosure Authorized  \nDEVELOPMENT COMMITTEE  \n(Joint Ministerial Committee  \nof the  \nBoards of Governors ofthe Bank and the Fund  \non the  \nTransfer of Real Resources to Developing Countries)  \nONE HUNDRED AND ONE MEETING  \nWASHINGTON, DC – APRIL 17, 2020  \n(VIRTUAL)  \nDC/S/2020-0028 April 17, 2020  \nStatement by  \nIgnazio Visco Governor of the Bank of Italy  \nConstituency of Albania, Greece, Italy, Malta, Portugal, San Marino and Timor-Leste  \nStatement by  \nIgnazio Visco  \nGovernor of the Bank of Italy  \nConstituency of Albania, Greece, Italy, Malta, Portugal, San Marino and Timor-Leste 101st Meeting of the Development Committee  \nApril 17, 2020  \nWashington, DC  \n(VIRTUAL)  \nThe crisis  \nThe crisis we are facing is unprecedented in its speed, diffusion and depth. And it is a crisis that affects us profoundly: it touches our own lives, our network of social relations, and our way of living as a community. Because the only way to limit the contagion is a protracted period of social distancing, significant economic pain seems unavoidable in all countries. The toll on the real economy—workers, as well as businesses—will be large; and the risk of financial instability will inevitably be high.  \nThis exceptional situation requires actions to be taken at all levels: national, regional and global. Indeed, precisely because the crisis is global, the answer must be global. Increased coordination between countries in response to the pandemic will allow all of us to come out of it together, sooner and at a lower cost. And we must recognize that significant external assistance will be needed.  \nIf the response falls short of what is required to avoid permanent damage to potential capacity, including human and organizational capital, the scale of long-term costs could be much larger than what we are currently projecting, even under the most severe scenarios.  \nThe effects of the crisis will be more acute in poorer and more fragile countries. It is therefore important to engage with less developed countries with all available means. This is first and foremost a humanitarian duty, but it is also in everyone’s interest. Developing countries are not an isolated world: many of them engage in global supply chains, and will remain an important part of the global recovery.  \nTo this end, recovery will be faster and broader if every country avoids national retrenchment and ensures the free flow of vital medical supplies, critical agricultural products, and other goods and services across borders, and if we all work to resolve disruptions to the global supply chains.  \nFrom a medium-term perspective, it is also essential to appropriately fund medical research, not only to obtain a vaccine, but also to produce effective drugs that can treat patients, reducing the number of those needing intensive care, and avoiding the most adverse health outcomes. International cooperation and coordination are key not only for the virus-suppression strategy to be successful on the global scale, but also in the aftermath, as it would be highly beneficial to support production with positive externalities.  \nThe World Bank Group response  \nThis unprecedented global shock risks unravelling the development gains of the past decades. Limited social protection mechanisms could exacerbate the damage caused by the Covid crisis to far too many workers, particularly those in informal sectors. As a result, poverty rates may climb back to levels not seen  \nin many years. A lack of decisive policy measures can have even grimmer longer-term consequences if human capital accumulation is impaired, e.g. because of adverse nutritional outcomes for children invulnerable households or school closures.  \nIn addition to increasing the resources available for health systems, policy strategy during the emergency must focus on supporting firms, workers and household incomes, as well as preventing liquidity problems from turning into massive defaults. ","cbCaiiOE6UGGSVj4","https://ap.wps.com/l/cbCaiiOE6UGGSVj4","pdf",49102,4,1,3,"English","en",105,"# The crisis\n## Need for global coordination\n## Humanitarian duty and global supply chains\n## Funding medical research\n# The World Bank Group response\n## Protecting development gains and poverty reduction\n## Emergency policy priorities\n## Supporting liquidity and preserving markets\n## Balancing short-term relief with long-term goals","[{\"question\":\"Why does the statement emphasize global coordination rather than only national actions?\",\"answer\":\"The crisis is global, and coordinated country responses can help limit contagion, reduce costs, and support a shared recovery. Coordination also helps address disruptions in international supply chains and external assistance needs.\"},{\"question\":\"What are the key priorities highlighted for the emergency response?\",\"answer\":\"Priorities include increasing resources for health systems, supporting firms, workers, and household incomes, and preventing liquidity problems from becoming defaults. The statement stresses maintaining the productive capacity of economies and ensuring financial market functionality.\"},{\"question\":\"How does the statement describe the role of international cooperation after the initial virus-suppression phase?\",\"answer\":\"It highlights that international cooperation and coordination are essential for successful global virus suppression and for the aftermath. Cooperation is also described as beneficial to support production with positive externalities, alongside funding medical research to improve treatment outcomes.\"}]","Statement by Ignazio Visco - 101st Meeting of the Development Committee - April 17, 2020 | PDF",1784483343,{"code":4,"msg":31,"data":32},"ok",{"site_id":25,"language":24,"slug":33,"title":13,"keywords":34,"description":14,"schema_data":35,"social_meta":85,"head_meta":87,"extra_data":89,"updated_unix":29},"statement-by-ignazio-visco-101st-meeting-of-the-development-committee-april-17-2020","",{"@graph":36,"@context":84},[37,52,67],{"@type":38,"itemListElement":39},"BreadcrumbList",[40,44,48,50],{"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":22},"https://docshare.wps.com/document/research-report/",{"item":51,"name":13,"@type":43,"position":20},"https://docshare.wps.com/document/statement-by-ignazio-visco-101st-meeting-of-the-development-committee-april-17-2020/109987/",{"url":51,"name":13,"@type":53,"author":54,"headline":13,"publisher":56,"fileFormat":59,"inLanguage":24,"description":14,"dateModified":60,"datePublished":61,"encodingFormat":59,"isAccessibleForFree":62,"interactionStatistic":63},"DigitalDocument",{"name":9,"@type":55},"Person",{"url":41,"name":57,"@type":58},"DocShare","Organization","application/pdf","2026-07-29","2026-07-19",true,{"@type":64,"interactionType":65,"userInteractionCount":20},"InteractionCounter",{"@type":66},"ViewAction",{"@type":68,"mainEntity":69},"FAQPage",[70,76,80],{"name":71,"@type":72,"acceptedAnswer":73},"Why does the statement emphasize global coordination rather than only national actions?","Question",{"text":74,"@type":75},"The crisis is global, and coordinated country responses can help limit contagion, reduce costs, and support a shared recovery. Coordination also helps address disruptions in international supply chains and external assistance needs.","Answer",{"name":77,"@type":72,"acceptedAnswer":78},"What are the key priorities highlighted for the emergency response?",{"text":79,"@type":75},"Priorities include increasing resources for health systems, supporting firms, workers, and household incomes, and preventing liquidity problems from becoming defaults. The statement stresses maintaining the productive capacity of economies and ensuring financial market functionality.",{"name":81,"@type":72,"acceptedAnswer":82},"How does the statement describe the role of international cooperation after the initial virus-suppression phase?",{"text":83,"@type":75},"It highlights that international cooperation and coordination are essential for successful global virus suppression and for the aftermath. Cooperation is also described as beneficial to support production with positive externalities, alongside funding medical research to improve treatment outcomes.","https://schema.org",{"og:url":51,"og:type":86,"og:title":13,"og:site_name":57,"og:description":14},"article",{"robots":88,"canonical":51},"index,follow",{"doc_id":7,"site_id":25},{"code":4,"msg":5,"data":91},[92,96,100,104,109,114,119,122,127,130,134],{"id":21,"doc_module":4,"doc_module_name":46,"category_name":93,"show_sort_weight":94,"slug":95},"Story & Novel",90,"story-novel",{"id":47,"doc_module":4,"doc_module_name":46,"category_name":97,"show_sort_weight":98,"slug":99},"Literature",80,"literature",{"id":20,"doc_module":4,"doc_module_name":46,"category_name":101,"show_sort_weight":102,"slug":103},"Exam",70,"exam",{"id":105,"doc_module":4,"doc_module_name":46,"category_name":106,"show_sort_weight":107,"slug":108},5,"Comic",60,"comic",{"id":110,"doc_module":4,"doc_module_name":46,"category_name":111,"show_sort_weight":112,"slug":113},6,"Technology",50,"technology",{"id":115,"doc_module":4,"doc_module_name":46,"category_name":116,"show_sort_weight":117,"slug":118},7,"Healthcare",40,"healthcare",{"id":11,"doc_module":4,"doc_module_name":46,"category_name":12,"show_sort_weight":120,"slug":121},30,"research-report",{"id":123,"doc_module":4,"doc_module_name":46,"category_name":124,"show_sort_weight":125,"slug":126},9,"Religion & Spirituality",20,"religion-spirituality",{"id":125,"doc_module":4,"doc_module_name":46,"category_name":128,"show_sort_weight":125,"slug":129},"World Cup","world-cup",{"id":131,"doc_module":4,"doc_module_name":46,"category_name":132,"show_sort_weight":131,"slug":133},10,"Lifestyle","lifestyle",{"id":135,"doc_module":4,"doc_module_name":46,"category_name":136,"show_sort_weight":105,"slug":137},19,"General","general"]