[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-109636-en":3,"doc-seo-109636-105":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},109636,7971461740909,"Levi","https://ap-avatar.wpscdn.com/davatar_155a257f0dc6eb9ab79c44ca47cae57d",8,"Research & Report","WBG Governor's Statement 4 - October 15, 2020 - Statement by the Hon. Obaid Humaid Al Tayer","Statement No. 4 dated October 15, 2020 presents remarks by Obaid Humaid Al Tayer, Alternate Governor for the United Arab Emirates, on behalf of the Arab Governors. The statement reviews regional economic development under COVID-19, emphasizing health spending, liquidity for banks supporting SMEs, expanded social safety nets, and challenges of contraction, fiscal deterioration, and debt sustainability. It addresses the G20 Debt Service Suspension Initiative, urges technical support for debt management and reporting, and highlights fragility, conflict, and violence impacts, including food and medical supply weaknesses and heightened vulnerability of women, youth, persons with disabilities, and displaced people.","Public Disclosure Authorized Public Disclosure Authorized  \nWBG Governor's Statement No. 4  \nOctober 15, 2020  \nStatement by the Hon. OBAID HUMAID AL TAYER, Alternate Governor of the Bank for THE UNITED ARAB EMIRATES, ON BEHALF OF THE ARAB GOVERNORS  \nStatement by the Hon. Obaid bin Humaid Al Tayer,  \nAlternate Governor of the Bank for the United Arab Emirates, on Behalf of the Arab Governors  \n1. Regional Economic Development: Arab countries have been severely impacted by the COVID-19 pandemic. Oil exporters have been affected by the oil shock, while oil importers have been hit by the decline in tourism, trade, and remittances. The policy responses have been swift, forceful, and focused on containing the spread of the virus while mitigating the economic and social impact of the crisis. Social safety nets were strengthened, and the monetary and fiscal stances softened to support economic activity. The objective was to prioritize health spending; ensure that cash and in-kind transfers reach the vulnerable groups, especially in the informal sector; make available ample liquidity to banks, particularly those providing support SMEs and strategic sectors, and help businesses survive, stay afloat and enable recovery; stem the rise in unemployment; and prevent a long-term economic stagnation and scarring. However, it was not possible to avoid a contraction of growth and a deterioration of fiscal positions. Ensuring debt sustainability will, therefore, be a key challenge for some countries in the region. We recognize the need to resume fiscal adjustment once the crisis abates, while continuing to support the recovery.  \n2. Debt Service Suspension Initiative (DSSI): COVID-19 has triggered the deepest global recession since World War II at a time when the average debt-to-GDP ratio has continued to soar, and fiscal space has narrowed. In this context, we welcome the G20 Debt Service Suspension Initiative (DSSI) and its aim to allow IDA countries to concentrate their resources on weathering the impact of COVID-19. We also welcome the effort by the WBG and IMF in supporting the implementation of the DSSI. Countries are committed to use freed-up resources to increase social, health, and economic spending in response to the crisis. However, we caution against using the DSSI as a conditionality in front loading IDA resources or in deploying WBG support to countries as accessing and scaling up concessional financing is crucial in shielding the economy and in supporting sustainable recovery in these countries. It is also vital to support the eligible debt vulnerable countries in servicing their debt in order to enable them to create the needed fiscal space to address the CVOID-19 financial and economic needs. We therefore urge the WBG and IMF to provide technical support to build the debt management and reporting capacities of national institutions to address rising debt vulnerabilities; and combat illicit financial flows. We find valuable their close cooperation and coordination in assisting client countries in debt analysis, including the continual monitoring of debt developments during the COVID-19 crisis and any needed particular attention to helping support investment and recovery and building back better.  \n3. Fragility, Conflict and Violence (FCV) : The economic and social impacts of COVID-19 is amplified in fragile and conflict-affected situations (FCS) due to their limited financial buffers, large infrastructure gaps and weak institutional capacity. COVID-19 triggered a sharp drop in household incomes in Arab countries that are suffering from fragility and conflict as well as shrank their real GDP and decreased flow of remittances. The  \npandemic also exposed the weaknesses in global and local food and medical supply chains, which pushed more vulnerable people in these countries into further distress and poverty. We, therefore, welcome the WBG’s swift response in supporting the overwhelmed healthcare systems in FCS. In responding and r","cbCaijeAfhAY6qB9","https://ap.wps.com/l/cbCaijeAfhAY6qB9","pdf",349974,4,1,9,"English","en",105,"# Regional Economic Development\n# Debt Service Suspension Initiative (DSSI)\n# Fragility, Conflict and Violence (FCV)\n# The IMF’s response in the MENA region","[{\"question\":\"What main economic priorities are highlighted for Arab countries during COVID-19?\",\"answer\":\"The statement emphasizes prioritizing health spending, strengthening social safety nets, ensuring transfers reach vulnerable groups, providing liquidity to banks supporting SMEs and strategic sectors, and preventing long-term economic stagnation.\"},{\"question\":\"How does the statement view the G20 Debt Service Suspension Initiative (DSSI)?\",\"answer\":\"It welcomes the DSSI to help IDA countries focus resources on COVID-19 impacts and supports WBG/IMF implementation, while cautioning against using it in ways that would undermine concessional financing access and scaling.\"},{\"question\":\"Why does the statement stress special attention to fragile, conflict, and violence (FCV) settings?\",\"answer\":\"It notes amplified economic and social impacts due to limited buffers, infrastructure gaps, and weak institutional capacity, and calls for targeted support such as stronger institutions, improved social protection, investment in human capital, and attention to vulnerable groups.\"}]","WBG Governor's Statement 4 - October 15, 2020 - Statement by the Hon. Obaid Humaid Al Tayer | PDF",1784481663,23,{"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},"wbg-governors-statement-4-october-15-2020-statement-by-the-hon-obaid-humaid-al-tayer","",{"@graph":37,"@context":86},[38,54,69],{"@type":39,"itemListElement":40},"BreadcrumbList",[41,45,49,52],{"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":51},"https://docshare.wps.com/document/research-report/",3,{"item":53,"name":13,"@type":44,"position":20},"https://docshare.wps.com/document/wbg-governors-statement-4-october-15-2020-statement-by-the-hon-obaid-humaid-al-tayer/109636/",{"url":53,"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","2026-07-29","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},"What main economic priorities are highlighted for Arab countries during COVID-19?","Question",{"text":76,"@type":77},"The statement emphasizes prioritizing health spending, strengthening social safety nets, ensuring transfers reach vulnerable groups, providing liquidity to banks supporting SMEs and strategic sectors, and preventing long-term economic stagnation.","Answer",{"name":79,"@type":74,"acceptedAnswer":80},"How does the statement view the G20 Debt Service Suspension Initiative (DSSI)?",{"text":81,"@type":77},"It welcomes the DSSI to help IDA countries focus resources on COVID-19 impacts and supports WBG/IMF implementation, while cautioning against using it in ways that would undermine concessional financing access and scaling.",{"name":83,"@type":74,"acceptedAnswer":84},"Why does the statement stress special attention to fragile, conflict, and violence (FCV) settings?",{"text":85,"@type":77},"It notes amplified economic and social impacts due to limited buffers, infrastructure gaps, and weak institutional capacity, and calls for targeted support such as stronger institutions, improved social protection, investment in human capital, and attention to vulnerable groups.","https://schema.org",{"og:url":53,"og:type":88,"og:title":13,"og:site_name":59,"og:description":14},"article",{"robots":90,"canonical":53},"index,follow",{"doc_id":7,"site_id":25},{"code":4,"msg":5,"data":93},[94,98,102,106,111,116,121,124,128,131,135],{"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":20,"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":117,"doc_module":4,"doc_module_name":47,"category_name":118,"show_sort_weight":119,"slug":120},7,"Healthcare",40,"healthcare",{"id":11,"doc_module":4,"doc_module_name":47,"category_name":12,"show_sort_weight":122,"slug":123},30,"research-report",{"id":22,"doc_module":4,"doc_module_name":47,"category_name":125,"show_sort_weight":126,"slug":127},"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"]