ΙΜF update

The latest IMF analysis of global economics, finance and policy issues shaping the world //

VIEW IN BROWSER    To start, earlier this week IMF Managing Director Kristalina Georgieva spoke at the Petersberg Climate Dialogue, at which she stated: "If this recovery is to be sustainable—if our world is to become more resilient—we must do everything in our power to promote a green recovery.” Georgieva outlined three priorities to make this happen: use public support wisely, promote green finance, and put the right price on carbon. Read her remarks here. In case you missed it, Managing Director Georgieva also recently engaged in a 1-on-1 with Frederick Kempe, President & CEO of the Atlantic Council, on the future of the global economy. Watch the 40-minute discussion. More broadly, below is a quick summary of our latest analytical work and research on how the novel coronavirus is impacting the global economy and how the IMF is responding to the crisis. A Global Crisis Like No Other Needs a Global Response Like No Other by Kristalina Georgieva The Short-term Liquidity Line: A New IMF Tool to Help in the Crisis by Geoffrey Okamoto A Post-Coronavirus Recovery in Asia—Extending a “Whatever it Takes” Lifeline to Small Businesses by Kenneth Kang and Changyong Rhee COVID-19 Pandemic and the Caribbean: Navigating Uncharted Waters by Krishna Srinivasan, Sònia Muñoz, and Varapat Chensavasdijai A “New Deal” for Informal Workers in Asia by Era Dabla-Norris and Changyong Rhee Also, in a new 22-min podcast, Managing Director Georgieva says macroeconomists and epidemiologists need to work together to make the right decisions. Professors Ghani and Ferguson of Imperial College, London—renowned for their mathematical modelling of the spread of infectious diseases—joined Georgieva in a virtual seminar during the recent IMF World-Bank Spring meetings. Curious about other recent podcasts? View them all here. In related news, the IMF has just approved its largest COVID-19 emergency financing package so far—a US$3.4 billion Rapid Financing Instrument (RFI) for Nigeria. The country has been hit hard by the coronavirus, particularly because of the associated plunge in the price of oil—Nigeria’s top export commodity. Learn more about the economic situation on the ground and how these emergency funds will be used by reading our just-published interview with Amine Mati, IMF mission chief for Nigeria. If you're wondering about the future of the global economy with a focus on India, IMF Chief Economist Gita Gopinath was interviewed yesterday by ThePrint's Editor-In-Chief Shekhar Gupta. Watch the 45-min discussion. Finally, as a reminder, we regularly update our global policy tracker to help our member countries be more aware of the experiences of others in combating COVID-19. The tracker covers 193 economies and summarizes key economic responses governments are taking to limit the impact of the pandemic. We are also regularly updating our new lending tracker, which visualizes the latest emergency financial assistance and debt relief to member countries approved by the IMF’s Executive Board. Still looking for more? Visit our COVID-19 hub for the latest news and updates. Take good care, Rahim Kanani International Monetary Fund rkanani@imf.org