[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-109881-en":3,"doc-seo-109881-105":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},109881,13056703019662,"Evangeline","https://ap-avatar.wpscdn.com/avatar/be000253a8e92610077?_k=1778726343310543188",8,"Research & Report","Statement by Secretary Steven T. Mnuchin to the 102nd Meeting of the Development Committee - October 16, 2020","Statement by U.S. Treasury Secretary Steven T. Mnuchin to the 102nd Development Committee meeting addresses the global economic and health crisis triggered by COVID-19 and the need for coordinated international policy action. It highlights emergency support provided to countries through IMF and World Bank operations, emphasizes sustained fiscal and monetary measures, and calls for calibrated policy support to enable rapid and durable recovery. It also discusses IMF financing, debt relief and restructuring, surveillance resumption, and upcoming reviews on debt sustainability and transparency.","Public Disclosure Authorized  \nPublic Disclosure Authorized  \nDEVELOPMENT COMMITTEE  \n(Joint Ministerial Committeeof the  \nBoards of Governors of the Bank and the Fundon theTransfer of Real Resources to Developing Countries)  \n## ONE HUNDRED AND TWO MEETINGWASHINGTON,DC-OCTOBER 16,2020\n\nStatement by  \nMr.Steven T.MnuchinSecretary of the Treasury  \nUnited States  \nDC/S/2020-0064  \nOctober 16,2020  \n### U.S.TREASURY DEPARTMENT OFFICE OF PUBLIC AFFAIRS\n\n# Statement by\n\nSecretary Steven T.Mnuchinto the 102nd Meeting of the Development Committee  \n### October 16,2020\n\n# Washington,DC\n\n## (VIRTUAL)\n\nAs we begin the Annual Meetings of the International Monetary Fund and the World Bank,we findourselves seven months into a global economic and health crisis unlike any the world has previously faced.Since March,the World Bank and IMF have helped countries respond quickly to the COVID-19 pandemic,adapting their operations to provide urgently needed emergency finance and advice to over 130 countries.As countries continue to respond to the crisis and move toward recovery,the IMF and World Bank willremain instrumental players,helping countries restore economic stability and lay the groundwork for arobust medium-term recovery characterized by sustainable growth and debt accumulation.  \nThe COVID-19 pandemic is a global crisis that requires a global response.The United States is doing itspart,deploying the largest economic relief package in American history.The U.S.Coronavirus Aid,Relief,and Economic Security(CARES)Act provided a tremendous boost,leading to vigorous rebounds acrossthe economy.Since April,the United States has experienced the fastest labor market recovery on record,regaining 11.4 million jobs in just five months.We also see signs of a strengthening economic recoveryacross U.S.industries,with retail sales at an all-time high,manufacturing on a positive trend since thissummer,and home sales and core capital goods orders exceeding pre-pandemic levels.The strength andcomprehensiveness of the recovery speaks to the size and breadth of fiscal and monetary support,as wellas to the speed with which that support has been implemented.While we are pleased with the success ofthe CARES Act,there is more work to be done,and we will continue to work to support the recovery.  \nThe extraordinary fiscal and monetary response unleashed by most major economies has helped cushionthe pandemic's terrible economic impact.Global financial conditions have eased significantly from theheight of market turmoil in the spring,and economic data is trending positive in most economies.At thesame time,we encourage our international partners not to withdraw critical policy support prematurely,particularly given remaining uncertainty about the path of the pandemic and its economic effects.Rather,we believe they should calibrate their policy measures to current conditions so as to promote rapid and  \ndurable recovery.To that end,we support the work of the Financial Stability Board to coordinate efforts tosustain the supply of credit to the real economy,support financial intermediation,and preserve thefunctioning and resilience of the global financial system.  \nThe IMF and World Bank Group must continue to play a key role in assisting members through this crisiswith advice,capacity development,and financing.We commend the IMF's rapid expansion of financing tocountries hard hit by the economic effects of the pandemic.As countries transition from crisis managementtoward recovery,the IMF will continue to play a key role by assisting countries in addressing near-termexternal imbalances while helping them establish credible,appropriately sequenced recovery andadjustment plans.For countries with more protracted adjustment needs,the IMF must encourage them tomove from emergency financing towards full-fledged programs that incorporate necessary structuralreforms to enable stronger recoveries.The IMF should continue to fully use its existing financing tools,though some addit","cbCaitPzIDm7NyCO","https://ap.wps.com/l/cbCaitPzIDm7NyCO","pdf",1087467,4,1,"English","en",105,"# U.S. response and recovery conditions\n## CARES Act impact and labor market recovery\n# Global policy coordination and financial stability\n## Financial Stability Board coordination\n# IMF role in crisis management and recovery\n## Financing tools, conditionality, and debt relief\n# Bilateral surveillance and key upcoming reviews\n# World Bank actions to strengthen health systems","[{\"question\":\"What does the statement say about the global nature of the COVID-19 crisis?\",\"answer\":\"It describes COVID-19 as requiring a global response and emphasizes that coordinated action is essential for recovery and restoring stability.\"},{\"question\":\"How does the statement characterize the IMF and World Bank’s roles during the transition from crisis to recovery?\",\"answer\":\"It argues that the IMF and World Bank must continue providing advice, capacity development, and financing, shifting focus from emergency management toward credible recovery and adjustment plans.\"},{\"question\":\"What guidance does the statement give regarding debt and policy support?\",\"answer\":\"It urges partners to avoid withdrawing support prematurely, encourages debt restructuring cooperation, and supports IMF debt service relief for hard-hit low-income countries.\"}]","Statement by Secretary Steven T. 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