[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-109749-en":3,"doc-seo-109749-105":31,"detail-sidebar-cat-0-en-105":92},{"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":30},109749,1099514067438,"River Wang","https://ap-avatar.wpscdn.com/avatar/100002539ee87300030?x-image-process=image/resize,m_fixed,w_180,h_180&k=1780474512215547542",8,"Research & Report","Statement by the Managing Director of the International Monetary Fund - Development Committee Written Statement - October 2020","The statement to the Development Committee presents the IMF Managing Director’s assessment of the global economy as it slowly emerges from the COVID-19 crisis. It emphasizes uneven recovery, elevated uncertainty, and heightened vulnerabilities facing emerging markets and, especially, low-income developing countries where limited policy space and weak institutions constrain responses. It outlines priorities for cushioning income losses and protecting critical development spending, and calls for international support through health supplies, grants, concessional loans, and debt reprofiling to restore fiscal capacity.","Public Disclosure Authorized Public Disclosure Authorized  \nDEVELOPMENT COMMITTEE  \n(Joint Ministerial Committee of the  \nBoards of Governors ofthe Bank and the Fundon the  \nTransfer of Real Resources to Developing Countries)  \nDC/S/2020-0054  \nOctober 14, 2020  \nSTATEMENT BY THE MANAGING DIRECTOR  \nOF THE INTERNATIONAL MONETARY FUND  \nAttached for information for the Members of the Development Committee is a Statement from the Managing Director of the International Monetary Fund, Kristalina Georgieva, for the Committee’s one hundred and second meeting to be held virtually on Friday, October 16, 2020.  \nDEVELOPMENT COMMITTEE: THE MANAGING DIRECTOR'S WRITTEN STATEMENT  \nOctober 2020  \nThe global economy has begun to emerge slowly from the COVID-19 crisis, but the recovery will likely be uneven, partial, prone to setbacks, and clouded by unusually large uncertainty. Emerging markets and, in particular, low-income developing countries (LIDCs) are facing an uphill battle as the effectiveness of their policy response is often hampered by limited policy space and weak institutions. Long-term scarring is a severe risk and threatens to reverse progress made to advance development and reduce poverty since the 1990s. Policymakers should do all they can to combat the health crisis and limit the economic fallout, including by cushioning income losses for people and firms. Where fiscal space is constrained, the focus should be on assisting the most vulnerable and protecting spending in areas critical for longer-term development, such as education and health. LIDCs need extensive support from the international community, however, including by guaranteeing essential health supplies, providing grants and concessional loans to ensure that countries can finance critical spending, and by reprofiling and restructuring debt where needed to restore fiscal space.  \n ECONOMIC OUTLOOK AND RISKS  \nThe global economy is embarking on a lengthy path to recovery…  \n with modest growth expected for 2021, after a severe contraction this year.  \nThe world economy has begun a gradual recovery after the sharp negative initial impact of the COVID-19 pandemic. Following an unprecedented slump in April, activity started to pick up in May and June as many economies started to reopen. GDP figures for the second quarter mostly surprised on the upside, owing inter aliato large-scale policy support in advanced and emerging economies and an associated easing in global financing conditions. From August, however, high case numbers in many countries and regions—including parts of the Americas, Europe, and South Asia—have slowed and/or partially reversed reopening plans, and mobility indicators—short-term proxies for economic activity—remain depressed.  \nThe IMF’s World Economic Outlook (WEO) now projects global growth of  \n-4.4 percent for 2020. This forecast is a bit less dire than the interim projection from June (by 0.8 percentage point) . Inflation is expected to remain subdued, as contracting aggregate demand is outweighing the impact of supply chain disruptions on prices. For 2021, a partial recovery is expected with global growth of 5.2 percent (0.2 percentage point below the June projection) . Continued social distancing will act as a brake on activity, especially in countries that struggle with getting the pandemic under control. Contact-intensive service sectors—including retail, hospitality, and arts and entertainment—will remain hard-hit and are expected to recover fully only once there is widespread availability of vaccines and treatments.  \nTHE MANAGING DIRECTOR’S WRITTEN STATEMENT TO THE DEVELOPMENT COMMITTEE—OCTOBER 2020  \nThe global forecast is subject to unusually large risks.  \nEmerging marketsand developing economies face an uphill battle.  \nLow-income developing countries are inan especially vulnerable position…  \nUncertainty around the baseline is very large. The near-term outlook depends inter aliaon the spread and infectiousness of the virus, the pu","cbCaivJ8iO964fru","https://ap.wps.com/l/cbCaivJ8iO964fru","pdf",230357,3,1,7,"English","en",105,"# Development Committee Written Statement\n## Economic Outlook and Risks\n## Policy Priorities and Support for Low-Income Countries","[{\"question\":\"Why is the global recovery expected to be uneven and uncertain?\",\"answer\":\"The statement links recovery setbacks to ongoing virus spread, imperfect public health responses, depressed mobility, and disruptions affecting activity. It also highlights unusually large risks around the baseline outlook.\"},{\"question\":\"What challenges do low-income developing countries face specifically?\",\"answer\":\"They face constrained policy space and weak institutions, making it harder to counter the crisis and support development. The statement notes severe vulnerability and long-term scarring risks that could reverse poverty reduction progress.\"},{\"question\":\"What fiscal and international support measures does the statement recommend?\",\"answer\":\"It recommends cushioning income losses and, when fiscal space is limited, focusing on the most vulnerable while protecting spending crucial for longer-term development such as education and health. For support, it calls for ensuring essential health supplies, providing grants and concessional loans, and restructuring debt to restore fiscal space.\"}]","Statement by the Managing Director of the International Monetary Fund - Development Committee Written Statement - October 2020 | PDF",1784482200,18,{"code":4,"msg":32,"data":33},"ok",{"site_id":25,"language":24,"slug":34,"title":13,"keywords":35,"description":14,"schema_data":36,"social_meta":87,"head_meta":89,"extra_data":91,"updated_unix":29},"statement-by-the-managing-director-of-the-international-monetary-fund-development-committee-written-statement-october-2020","",{"@graph":37,"@context":86},[38,54,69],{"@type":39,"itemListElement":40},"BreadcrumbList",[41,45,49,51],{"item":42,"name":43,"@type":44,"position":21},"https://docshare.wps.com","Home","ListItem",{"item":46,"name":47,"@type":44,"position":48},"https://docshare.wps.com/document/","Document",2,{"item":50,"name":12,"@type":44,"position":20},"https://docshare.wps.com/document/research-report/",{"item":52,"name":13,"@type":44,"position":53},"https://docshare.wps.com/document/statement-by-the-managing-director-of-the-international-monetary-fund-development-committee-written-statement-october-2020/109749/",4,{"url":52,"name":13,"@type":55,"author":56,"headline":13,"publisher":58,"fileFormat":61,"inLanguage":24,"description":14,"dateModified":62,"datePublished":63,"encodingFormat":61,"isAccessibleForFree":64,"interactionStatistic":65},"DigitalDocument",{"name":9,"@type":57},"Person",{"url":42,"name":59,"@type":60},"DocShare","Organization","application/pdf","2026-07-30","2026-07-19",true,{"@type":66,"interactionType":67,"userInteractionCount":20},"InteractionCounter",{"@type":68},"ViewAction",{"@type":70,"mainEntity":71},"FAQPage",[72,78,82],{"name":73,"@type":74,"acceptedAnswer":75},"Why is the global recovery expected to be uneven and uncertain?","Question",{"text":76,"@type":77},"The statement links recovery setbacks to ongoing virus spread, imperfect public health responses, depressed mobility, and disruptions affecting activity. It also highlights unusually large risks around the baseline outlook.","Answer",{"name":79,"@type":74,"acceptedAnswer":80},"What challenges do low-income developing countries face specifically?",{"text":81,"@type":77},"They face constrained policy space and weak institutions, making it harder to counter the crisis and support development. The statement notes severe vulnerability and long-term scarring risks that could reverse poverty reduction progress.",{"name":83,"@type":74,"acceptedAnswer":84},"What fiscal and international support measures does the statement recommend?",{"text":85,"@type":77},"It recommends cushioning income losses and, when fiscal space is limited, focusing on the most vulnerable while protecting spending crucial for longer-term development such as education and health. For support, it calls for ensuring essential health supplies, providing grants and concessional loans, and restructuring debt to restore fiscal space.","https://schema.org",{"og:url":52,"og:type":88,"og:title":13,"og:site_name":59,"og:description":14},"article",{"robots":90,"canonical":52},"index,follow",{"doc_id":7,"site_id":25},{"code":4,"msg":5,"data":93},[94,98,102,106,111,116,120,123,128,131,135],{"id":21,"doc_module":4,"doc_module_name":47,"category_name":95,"show_sort_weight":96,"slug":97},"Story & Novel",90,"story-novel",{"id":48,"doc_module":4,"doc_module_name":47,"category_name":99,"show_sort_weight":100,"slug":101},"Literature",80,"literature",{"id":53,"doc_module":4,"doc_module_name":47,"category_name":103,"show_sort_weight":104,"slug":105},"Exam",70,"exam",{"id":107,"doc_module":4,"doc_module_name":47,"category_name":108,"show_sort_weight":109,"slug":110},5,"Comic",60,"comic",{"id":112,"doc_module":4,"doc_module_name":47,"category_name":113,"show_sort_weight":114,"slug":115},6,"Technology",50,"technology",{"id":22,"doc_module":4,"doc_module_name":47,"category_name":117,"show_sort_weight":118,"slug":119},"Healthcare",40,"healthcare",{"id":11,"doc_module":4,"doc_module_name":47,"category_name":12,"show_sort_weight":121,"slug":122},30,"research-report",{"id":124,"doc_module":4,"doc_module_name":47,"category_name":125,"show_sort_weight":126,"slug":127},9,"Religion & Spirituality",20,"religion-spirituality",{"id":126,"doc_module":4,"doc_module_name":47,"category_name":129,"show_sort_weight":126,"slug":130},"World Cup","world-cup",{"id":132,"doc_module":4,"doc_module_name":47,"category_name":133,"show_sort_weight":132,"slug":134},10,"Lifestyle","lifestyle",{"id":136,"doc_module":4,"doc_module_name":47,"category_name":137,"show_sort_weight":107,"slug":138},19,"General","general"]