realityapp realityapp realityapp
  • 3Sports
  • Home
  • MG Radio
3news
Advertisement
  • Home
  • News
  • Politics
  • Business
  • World
  • Showbiz
  • 3Sports
  • Lifestyle
  • Tilapia
  • MORE
    • Education
    • Features
    • Tech
    • Health
    • GMB
    • Mentor
    • Coronavirus
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • World
  • Showbiz
  • 3Sports
  • Lifestyle
  • Tilapia
  • MORE
    • Education
    • Features
    • Tech
    • Health
    • GMB
    • Mentor
    • Coronavirus
No Result
View All Result
3news
No Result
View All Result
Home Business

Covid-19: Economic outlook for most countries remain uncertain – IMF

February 5, 2021

The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has noted that although the IMF has given financial support to member countries to enable them deal with the impact of the coronavirus on their economies, the outlook remains uncertain.

realityapp realityapp realityapp

She said Countries now face a long ascent that will be difficult, uneven, uncertain, and prone to setbacks.

“In response to the crisis, we quickly focused on our members’ most critical needs. We streamlined our procedures and rapidly embraced remote work to speed up decision-making, policy discussions, technical assistance, and training. We created a policy tracker summarizing the key economic responses of 196 economies, because sharing information, data, and analysis is a unique way we can add value for our members.

“While the IMF has taken unprecedented action, the outlook remains uncertain. Countries now face a long ascent that will be difficult, uneven, uncertain, and prone to setbacks.

RelatedPosts

Organizers of GMA-USA unveil date for nominees announcement

Organizers of GMA-USA unveil date for nominees announcement

February 28, 2021

[Live] Super Clash- Kotoko, Hearts game ends in a draw

February 28, 2021

Wakoso’s club Jiangsu Sunning ceases operation

February 28, 2021

“With substantial space in our $1 trillion lending capacity, the IMF is ready to help even more. Working with our members—now numbering 190 with the addition of Andorra—we can build a recovery that is more resilient and inclusive for all,” she said in the Bretton Woods Institution’s 2020 annual report.

She added “This Annual Report reflects the policy advice, lending, and capacity development work of the Executive Board and staff to help our member countries before and during the pandemic—with a focus on policies for people that recognize the impact of macroeconomic policies on individuals.

“This report also highlights how we have continued to deepen our work on debt sustainability, governance and the control of corruption, social spending, financial technology and digital money, and climate change. Action in many of these areas offers the potential for a transformational recovery through job-rich growth that benefits all.”

Below is her full message…

MESSAGE FROM THE MANAGING DIRECTOR

Dear Reader,

This year, as the world faced a crisis like no other, the IMF and its members swung into action.

National governments took bold steps to save lives and put a floor under the world economy, with nearly $12 trillion in fiscal actions and about $7.5 trillion in monetary actions.

The package of measures endorsed as part of the quota review approved by the Board of Governors in February 2020 preserves our financial firepower. These measures include the doubling of the New Arrangements to Borrow and a new round of bilateral borrowing arrangements, which are expected to be effective in January 2021.

Member countries also stepped up with essential contributions to our Catastrophe Containment and Relief Trust and Poverty Reduction and Growth Trust.

These resources have allowed the IMF to commit over $100 billion to help members in need since the pandemic began. This includes providing our low-income members with much-needed debt relief, extended until April 2021, and concessional lending—including about 10 times more such lending since the crisis hit than we usually disburse in a year. Our response was comprehensive, supporting both members that entered the crisis with vulnerabilities such as high debt and those that have good fundamentals but needed buffers.

In response to the crisis, we quickly focused on our members’ most critical needs. We streamlined our procedures and rapidly embraced remote work to speed up decision-making, policy discussions, technical assistance, and training. We created a policy tracker summarizing the key economic responses of 196 economies, because sharing information, data, and analysis is a unique way we can add value for our members.

While the IMF has taken unprecedented action, the outlook remains uncertain. Countries now face a long ascent that will be difficult, uneven, uncertain, and prone to setbacks.

With substantial space in our $1 trillion lending capacity, the IMF is ready to help even more. Working with our members—now numbering 190 with the addition of Andorra—we can build a recovery that is more resilient and inclusive for all.

This Annual Report reflects the policy advice, lending, and capacity development work of the Executive Board and staff to help our member countries before and during the pandemic—with a focus on policies for people that recognize the impact of macroeconomic policies on individuals.

This report also highlights how we have continued to deepen our work on debt sustainability, governance and the control of corruption, social spending, financial technology and digital money, and climate change. Action in many of these areas offers the potential for a transformational recovery through job-rich growth that benefits all.

By Laud Nartey|3news.com|Ghana

Previous Post

The court is at a loss – Chief Justice tells Tsatsu Tsikata

Next Post

Supreme Court strikes out 5 paragraphs of Rojo Mettle Nunoo’s statement

Related Posts

Organizers of GMA-USA unveil date for nominees announcement
Top Entertainment

Organizers of GMA-USA unveil date for nominees announcement

February 28, 2021
[Live] Super Clash- Kotoko, Hearts game ends in a draw
Top Sports

[Live] Super Clash- Kotoko, Hearts game ends in a draw

February 28, 2021
Wakoso’s club Jiangsu Sunning ceases operation
Top Sports

Wakoso’s club Jiangsu Sunning ceases operation

February 28, 2021
Akufo-Addo speaks on COVID-19 today, after arrival of vaccines
Major Top Story3

Akufo-Addo speaks on COVID-19 today, after arrival of vaccines

February 28, 2021
KATH appeals for public support
Featured Story

KATH appeals for public support

February 28, 2021
Major Top Story

CPP demands shutdown of Australian High Commission over LGBT endorsement

February 28, 2021
Next Post
Petitioner’s 3rd witness, Rojo Mettle gives out-of-court testimony due to ill health

Supreme Court strikes out 5 paragraphs of Rojo Mettle Nunoo’s statement

Discussion about this post

Stay Connected

  • 1.7M Fans
  • 207k Subscribers
realityapp realityapp realityapp
  • Trending
  • Comments
  • Latest
Video: I’m gay, I prefer men like John Dumelo – Pappy Kojo

Video: I’m gay, I prefer men like John Dumelo – Pappy Kojo

February 21, 2021

Eugene Arhin dragged to court for ‘adultery’; wife demands GH¢2m in settlement

February 11, 2021
Esther Cobbah appointed onto board of IPRA

Esther Cobbah appointed onto board of IPRA

February 18, 2021
NPP PC aspirant defects to NDC in Odododiodio

NPP PC aspirant defects to NDC in Odododiodio

February 23, 2021
Organizers of GMA-USA unveil date for nominees announcement

Organizers of GMA-USA unveil date for nominees announcement

February 28, 2021
[Live] Super Clash- Kotoko, Hearts game ends in a draw

[Live] Super Clash- Kotoko, Hearts game ends in a draw

February 28, 2021
Wakoso’s club Jiangsu Sunning ceases operation

Wakoso’s club Jiangsu Sunning ceases operation

February 28, 2021
Akufo-Addo speaks on COVID-19 today, after arrival of vaccines

Akufo-Addo speaks on COVID-19 today, after arrival of vaccines

February 28, 2021

Recent News

Organizers of GMA-USA unveil date for nominees announcement

Organizers of GMA-USA unveil date for nominees announcement

February 28, 2021
[Live] Super Clash- Kotoko, Hearts game ends in a draw

[Live] Super Clash- Kotoko, Hearts game ends in a draw

February 28, 2021
Wakoso’s club Jiangsu Sunning ceases operation

Wakoso’s club Jiangsu Sunning ceases operation

February 28, 2021
Akufo-Addo speaks on COVID-19 today, after arrival of vaccines

Akufo-Addo speaks on COVID-19 today, after arrival of vaccines

February 28, 2021
3news

3news.com is the fastest growing news portal in Ghana. Get all breaking news updates, latest news headlines, local and world stories, showbiz, lifestyle etc.

Follow Us

Browse by Category

Recent News

Organizers of GMA-USA unveil date for nominees announcement

Organizers of GMA-USA unveil date for nominees announcement

February 28, 2021
[Live] Super Clash- Kotoko, Hearts game ends in a draw

[Live] Super Clash- Kotoko, Hearts game ends in a draw

February 28, 2021
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2021 Media General - Developed and managed by MG Digital.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • World
  • Showbiz
  • 3Sports
  • Lifestyle
  • Tilapia
  • MORE
    • Education
    • Features
    • Tech
    • Health
    • GMB
    • Mentor
    • Coronavirus

© 2021 Media General - Developed and managed by MG Digital.