ΙΜF updates:The Global Economic Impact of COVID-19

The IMF's take on the global economic impact of the novel coronavirus //

Dear Colleague, I hope this note reaches you in good health. This week we published a number of blogs, broken down by region, detailing our most recent analytical work and research on how the novel coronavirus is impacting the global economy: Policy Action for a Healthy Global Economy by Managing Director Kristalina Georgieva In It Together: Protecting the Health of Africa’s People and their Economies by Karen Ongley and Abebe Aemro Selassie of the African Department COVID-19 Pandemic and the Middle East and Central Asia: Region Facing Dual Shock by Jihad Azour, Director of the Middle East and Central Asia Department Blunting the Impact and Hard Choices: Early Lessons from China by Helge Berger, Kenneth Kang, and Changyong Rhee of the Asia and Pacific Department COVID-19 Pandemic and Latin America and the Caribbean: Time for Strong Policy Actions by Alejandro Werner, Director of the Western Hemisphere Department  We also just published a global policy tracker to help our member countries be more aware of the experiences of others in combating COVID-19. The tracker—covering 186 countries and territories—focuses on discretionary actions that supplement existing social safety nets and insurance mechanisms, and summarizes key economic responses governments are taking to limit the impact of the pandemic. It is perhaps the most comprehensive collection of policy insight on this topic in the world. In addition, jointly with the World Bank Group, we have called for all official bilateral creditors to suspend debt payments from the world’s 76 poorest countries and enable them to redirect funds towards confronting the economic fallout from the pandemic. Finally, following an extraordinary G20 Leaders' Summit conference call yesterday, Managing Director Kristalina Georgieva focused on the critical need for targeted fiscal support to vulnerable households and to large and small businesses, the importance of supporting emerging market and developing economies to overcome the brunt of the crisis, and how we must act at par with the magnitude of the challenge. Next week, we will explore the economic impact of COVID-19 on Europe—stay tuned. Thank you again for your interest in IMF Blog. Heading into the weekend, I sincerely hope you find these regular updates insightful and action-oriented. If you have any questions or comments, please feel free to write to me directly. I would love to hear from you. Take good care, Glenn Gottselig Blog Editor, International Monetary Fund GGottselig@imf.org P.S. Specialized newsletters on monetary policy, financial markets, global trade and other topics are coming soon. Is your profile below accurate? Please do keep it current (you may have to re-enter your email address). First Name: Colleague Last Name: NA Job Title: NA Organization: NA Type of Organization: NA Country: NA Preferred Language: English Topical Interests: (select in profile) Regional Interests: (select in profile)