Global Corporate Stress Tests Impact Of The Covid 19 Pandemic And Policy Responses

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Global Corporate Stress Tests—Impact of the COVID-19 Pandemic and Policy Responses

Author : Mr. Thierry Tressel
Publisher : International Monetary Fund
ISBN 13 : 1513590820
Total Pages : 54 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Global Corporate Stress Tests—Impact of the COVID-19 Pandemic and Policy Responses by : Mr. Thierry Tressel

Download or read book Global Corporate Stress Tests—Impact of the COVID-19 Pandemic and Policy Responses written by Mr. Thierry Tressel and published by International Monetary Fund. This book was released on 2021-08-06 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate sector vulnerabilities have been a central policy topic since the outset of the COVID-19 pandemic. In this paper, we analyze some 17,000 publicly listed firms in a sample of 24 countries, and assess their ability to withstand shocks induced by the pandemic to their liquidity, viability and solvency. For this purpose, we develop novel multi-factor sensitivity analysis and dynamic scenario-based stress test techniques to assess the impact of shocks on firm’s ability to service their debt, and on their liquidity and solvency positions. Applying the October 2020 WEO baseline and adverse scenarios, we find that a large share of publicly-listed firms become vulnerable as a result of the pandemic shock and additional borrowing needs to overcome cash shortfalls are large, while firm behavioral responses and policies substantially help overcome the impact of the shock in the near term. Looking forward, while interest coverage ratios tend to improve over time after the initial shock as earnings recover in line with projected macroeconomic conditions, liquidity needs remain substantial in many firms across countries and across industries, while insolvencies rise over time in specific industries. To inform policy debates, we offer an approach to a triage between viable and unviable firms, and find that the needs for liquidity support of viable firms remain important beyond 2020, and that medium-term debt restructuring needs and liquidations of firms may be substantial in the medium-term.

Corporate Sector Resilience in India in the Wake of the COVID-19 Shock

Author : Lucyna Gornicka
Publisher : International Monetary Fund
ISBN 13 : 1589065875
Total Pages : 31 pages
Book Rating : 4.5/5 (89 download)

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Book Synopsis Corporate Sector Resilience in India in the Wake of the COVID-19 Shock by : Lucyna Gornicka

Download or read book Corporate Sector Resilience in India in the Wake of the COVID-19 Shock written by Lucyna Gornicka and published by International Monetary Fund. This book was released on 2021-11-19 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: To assess the resilience of India’s corporate sector against COVID-19-related shocks, we conducted a series of stress tests using firm-level corporate balance sheet data. The results reveal a differential impact across sectors, with the most severe impact on contact-intensive services, construction, and manufacturing sectors, and micro, small, and medium enterprises. On policy impact, the results highlight that temporary policy measures have been particularly effective in supporting firm liquidity, but the impact on solvency is less pronounced. On financial sector balance sheets, we found that public sector banks are more vulnerable to stress in the corporate sector, partly due to their weaker starting capital positions. When considering forward-looking multiperiod growth scenarios, we find that the overall corporate performance will depend on the speed of recovery. A slower pace of recovery could lead to persistently high levels of debt at risk, especially in some services and industrial sectors.

Corporate Liquidity and Solvency in Europe during COVID-19: The Role of Policies

Author : Mr.Christian H Ebeke
Publisher : International Monetary Fund
ISBN 13 : 1513570919
Total Pages : 48 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Corporate Liquidity and Solvency in Europe during COVID-19: The Role of Policies by : Mr.Christian H Ebeke

Download or read book Corporate Liquidity and Solvency in Europe during COVID-19: The Role of Policies written by Mr.Christian H Ebeke and published by International Monetary Fund. This book was released on 2021-03-02 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: The spread of COVID-19, containment measures, and general uncertainty led to a sharp reduction in activity in the first half of 2020. Europe was hit particularly hard—the economic contraction in 2020 is estimated to have been among the largest in the world—with potentially severe repercussions on its nonfinancial corporations. A wave of corporate bankruptcies would generate mass unemployment, and a loss of productive capacity and firm-specific human capital. With many SMEs in Europe relying primarily on the banking sector for external finance, stress in the corporate sector could easily translate into pressures in the banking system (Aiyar et al., forthcoming).

Economic Policy, COVID-19 and Corporations

Author : Katarzyna Mroczek-Dąbrowska
Publisher :
ISBN 13 : 9781003345428
Total Pages : 0 pages
Book Rating : 4.3/5 (454 download)

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Book Synopsis Economic Policy, COVID-19 and Corporations by : Katarzyna Mroczek-Dąbrowska

Download or read book Economic Policy, COVID-19 and Corporations written by Katarzyna Mroczek-Dąbrowska and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book addresses the economic impact of the COVID-19 outbreak on Central and East European countries and examines the effect the pandemic has had on organizations in the region. It focuses on the widely understood business environment, covering companies' responses to the crisis, the role of institutions in stabilizing markets, and the reshaping of global business trends. The book is a complex and multidimensional work that draws its roots from distinct yet simultaneously interlinked research areas. All of the chapters, whether they refer to macro-, meso- or micro-perspectives, always highlight how crises - global and regional - change the global trends we have observed in business in the last 20 years. The book includes the most topical issues that delineate public discourse on firms' resilience. In this way, it 'connects the dots' and uncovers the missing links necessary for any reader wishing to understand the specificity of contemporary companies' responses to unexpected events such as pandemics or geopolitical crises. Further, it tackles questions such as what role institutions play in building the adaptive capacity of companies, how companies build their resilience capacity for 21st century crises and what the significance of the uncertainty, the information asymmetry, and the bounded rationality concept on the company's decision-making process is. The book will find a broad audience among academics and students across diverse fields of study, as well as practitioners and policymakers. It is a key reference for all those who want to better understand the complex nature of uncertainty, crisis management, and its implications, not only for CEE countries but, first and foremost, the business environment"--

Global Financial Stability Report, October 2020

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : INTERNATIONAL MONETARY FUND
ISBN 13 : 9781513554228
Total Pages : 118 pages
Book Rating : 4.5/5 (542 download)

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Book Synopsis Global Financial Stability Report, October 2020 by : International Monetary Fund. Monetary and Capital Markets Department

Download or read book Global Financial Stability Report, October 2020 written by International Monetary Fund. Monetary and Capital Markets Department and published by INTERNATIONAL MONETARY FUND. This book was released on 2020-10-23 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt: Near-term global financial stability risks have been contained as an unprecedented policy response to the coronavirus (COVID-19) pandemic has helped avert a financial meltdown and maintain the flow of credit to the economy. For the first time, many emerging market central banks have launched asset purchase programs to support the smooth functioning of financial markets and the overall economy. But the outlook remains highly uncertain, and vulnerabilities are rising, representing potential headwinds to recovery. The report presents an assessment of the real-financial disconnect, as well as forward-looking analysis of nonfinancial firms, banks, and emerging market capital flows. After the outbreak, firms’ cash flows were adversely affected as economic activity declined sharply. More vulnerable firms—those with weaker solvency and liquidity positions and smaller size—experienced greater financial stress than their peers in the early stages of the crisis. As the crisis unfolds, corporate liquidity pressures may morph into insolvencies, especially if the recovery is delayed. Small and medium-sized enterprises (SMEs) are more vulnerable than large firms with access to capital markets. Although the global banking system is well capitalized, some banking systems may experience capital shortfalls in an adverse scenario, even with the currently deployed policy measures. The report also assesses the pandemic’s impact on firms’ environmental performance to gauge the extent to which the crisis may result in a reversal of the gains posted in recent years.

Economic and fiscal outlook

Author : Office for Budget Responsibility
Publisher : The Stationery Office
ISBN 13 : 9780101797924
Total Pages : 164 pages
Book Rating : 4.7/5 (979 download)

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Book Synopsis Economic and fiscal outlook by : Office for Budget Responsibility

Download or read book Economic and fiscal outlook written by Office for Budget Responsibility and published by The Stationery Office. This book was released on 2010-11-29 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Office for Budget Responsibility was established to provide independent and authoritative analysis of the UK's public finances. Part of this role includes producing the official economic and fiscal forecasts. This report sets out forecasts for the period to 2015-16. The report also assesses whether the Government is on course to meet the medium-term fiscal objectives and presents preliminary observations on the long-run sustainability of the public finances. Since the June forecast, the UK economy has recovered more strongly than initially expected. The GDP growth was greater than expected in both the 2nd and 3rd quarters, but that unemployment levels have risen to levels that the June forecast did not anticipate until the middle of 2012. In general the world economy has also grown more strongly. CPI inflation has remained slightly higher than expected in June, whilst public finances have performed as forecast. The interest rates on UK debt are lower than in June. The OBR forecasts that the economy will continue to recover from the recession, but at a slower pace than the recoveries of the 1970s, 1980s and 1990s. The publication is divided into 5 chapters with two annexes.

Routledge Handbook of Law and the COVID-19 Pandemic

Author : Joelle Grogan
Publisher : Routledge
ISBN 13 : 1000582132
Total Pages : 370 pages
Book Rating : 4.0/5 (5 download)

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Book Synopsis Routledge Handbook of Law and the COVID-19 Pandemic by : Joelle Grogan

Download or read book Routledge Handbook of Law and the COVID-19 Pandemic written by Joelle Grogan and published by Routledge. This book was released on 2022-05-16 with total page 370 pages. Available in PDF, EPUB and Kindle. Book excerpt: The COVID-19 pandemic not only ravaged human bodies but also had profound and possibly enduring effects on the health of political and legal systems, economies and societies. Almost overnight, governments imposed the severest restrictions in modern times on rights and freedoms, elections, parliaments and courts. Legal and political institutions struggled to adapt, creating a catalyst for democratic decline and catastrophic increases in poverty and inequality. This handbook analyses the global pandemic response through five themes: governance and democracy; human rights; the rule of law; science, public trust and decision making; and states of emergency and exception. Containing 12 thematic commentaries and 25 chapters on countries of diverse size, wealth and experience of COVID-19, it represents the combined effort of more than 50 contributors, including leading scholars and rising voices in the fields of constitutional, international, public health, human rights and comparative law, as well as political science, and science and technology studies. Taking stock after the onset of global emergency, this book provides essential analysis for politicians, policy-makers, jurists, civil society organisations, academics, students and practitioners at both national and international level on the best, and most concerning, practices adopted in response to COVID-19 – and key insights into how states and multilateral institutions should reform, adapt and prepare for future emergencies.

After-Effects of the COVID-19 Pandemic: Prospects for Medium-Term Economic Damage

Author : Mr. Philip Barrett
Publisher : International Monetary Fund
ISBN 13 : 1513587900
Total Pages : 23 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis After-Effects of the COVID-19 Pandemic: Prospects for Medium-Term Economic Damage by : Mr. Philip Barrett

Download or read book After-Effects of the COVID-19 Pandemic: Prospects for Medium-Term Economic Damage written by Mr. Philip Barrett and published by International Monetary Fund. This book was released on 2021-07-30 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: The COVID-19 pandemic has led to a severe global recession with differential impacts within and across countries. This paper examines the possible persistent effects (scarring) of the pandemic on the economy and the channels through which they may occur. History suggests that deep recessions often leave long-lived scars, particularly to productivity. Importantly, financial instabilities—typically associated with worse scarring—have been largely avoided in the current crisis so far. While medium-term output losses are anticipated to be lower than after the global financial crisis, they are still expected to be substantial. The degree of expected scarring varies across countries, depending on the structure of economies and the size of the policy response. Emerging market and developing economies are expected to suffer more scarring than advanced economies.

Health at a Glance: Europe 2020 State of Health in the EU Cycle

Author : OECD
Publisher : OECD Publishing
ISBN 13 : 926481194X
Total Pages : 237 pages
Book Rating : 4.2/5 (648 download)

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Book Synopsis Health at a Glance: Europe 2020 State of Health in the EU Cycle by : OECD

Download or read book Health at a Glance: Europe 2020 State of Health in the EU Cycle written by OECD and published by OECD Publishing. This book was released on 2020-11-19 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2020 edition of Health at a Glance: Europe focuses on the impact of the COVID‐19 crisis. Chapter 1 provides an initial assessment of the resilience of European health systems to the COVID-19 pandemic and their ability to contain and respond to the worst pandemic in the past century.

International Finance

Author : Keith Pilbeam
Publisher : Bloomsbury Publishing
ISBN 13 : 1350347124
Total Pages : 569 pages
Book Rating : 4.3/5 (53 download)

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Book Synopsis International Finance by : Keith Pilbeam

Download or read book International Finance written by Keith Pilbeam and published by Bloomsbury Publishing. This book was released on 2023-02-23 with total page 569 pages. Available in PDF, EPUB and Kindle. Book excerpt: International Finance is an established and internationally renowned introduction to the subject. It draws on recent events to provide comprehensive coverage of traditional theories and new research relating to the balance of payments, exchange rate determination and the international monetary system.

Impact of Covid-19 on the Careers of Women in Academic Sciences, Engineering, and Medicine

Author : National Academies Of Sciences Engineeri
Publisher : National Academies Press
ISBN 13 : 9780309268370
Total Pages : pages
Book Rating : 4.2/5 (683 download)

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Book Synopsis Impact of Covid-19 on the Careers of Women in Academic Sciences, Engineering, and Medicine by : National Academies Of Sciences Engineeri

Download or read book Impact of Covid-19 on the Careers of Women in Academic Sciences, Engineering, and Medicine written by National Academies Of Sciences Engineeri and published by National Academies Press. This book was released on 2021-12-09 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The spring of 2020 marked a change in how almost everyone conducted their personal and professional lives, both within science, technology, engineering, mathematics, and medicine (STEMM) and beyond. The COVID-19 pandemic disrupted global scientific conferences and individual laboratories and required people to find space in their homes from which to work. It blurred the boundaries between work and non-work, infusing ambiguity into everyday activities. While adaptations that allowed people to connect became more common, the evidence available at the end of 2020 suggests that the disruptions caused by the COVID-19 pandemic endangered the engagement, experience, and retention of women in academic STEMM, and may roll back some of the achievement gains made by women in the academy to date. Impact of COVID-19 on the Careers of Women in Academic STEMM identifies, names, and documents how the COVID-19 pandemic disrupted the careers of women in academic STEMM during the initial 9-month period since March 2020 and considers how these disruptions - both positive and negative - might shape future progress for women. This publication builds on the 2020 report Promising Practices for Addressing the Underrepresentation of Women in Science, Engineering, and Medicine to develop a comprehensive understanding of the nuanced ways these disruptions have manifested. Impact of COVID-19 on the Careers of Women in Academic STEMM will inform the academic community as it emerges from the pandemic to mitigate any long-term negative consequences for the continued advancement of women in the academic STEMM workforce and build on the adaptations and opportunities that have emerged.

The COVID-19 Disruption and the Global Health Challenge

Author : Vincenzo Atella
Publisher : Elsevier
ISBN 13 : 0443185778
Total Pages : 578 pages
Book Rating : 4.4/5 (431 download)

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Book Synopsis The COVID-19 Disruption and the Global Health Challenge by : Vincenzo Atella

Download or read book The COVID-19 Disruption and the Global Health Challenge written by Vincenzo Atella and published by Elsevier. This book was released on 2023-11-15 with total page 578 pages. Available in PDF, EPUB and Kindle. Book excerpt: The COVID-19 Disruption and the Global Health Dilemma provides an historical accounting of the response to the COVID-19 pandemic through the eyes of the largest pubic health system in the United States, one that served the hardest hit neighborhoods in New York City. The book offers a roadmap to guide healthcare systems and their providers in the event of future pandemics. Readers will learn from healthcare providers at the epicenter of the pandemic in New York City about surge staffing and level loading, along with tips from the ED and ICUs on how to respond to an unprecedented influx of inpatients. Provides historical context of the COVID-19 response by NYC Health + Hospitals Covers how to respond to mass influx of patients and sustained crisis over a year+ Presents information on standing up genomic sequencing

Preparing For Pandemics: Lessons From The Global Financial Crisis And Covid-19

Author : David Longworth
Publisher : World Scientific
ISBN 13 : 9811255946
Total Pages : 196 pages
Book Rating : 4.8/5 (112 download)

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Book Synopsis Preparing For Pandemics: Lessons From The Global Financial Crisis And Covid-19 by : David Longworth

Download or read book Preparing For Pandemics: Lessons From The Global Financial Crisis And Covid-19 written by David Longworth and published by World Scientific. This book was released on 2022-06-08 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: In far too many cases, recommendations of forensic reports on previous pandemics were ignored. Substantial weaknesses in the preparation by public health authorities and governments increased the health and economic costs of the COVID-19 pandemic relative to what they would have been if pre-existing recommendations had been followed and a wider set of plans had been put into place. We discuss parallels between the lack of preparation of financial system regulators prior to the global financial crisis and the lack of preparation by public health authorities and governments prior to COVID-19. These parallels relate to: required stocks (of capital or equipment), data collection and sharing, lending facilities, stress testing and war games, early warning indicators and systems, contagion from abroad, operational risks, a system-wide approach (including effects on the real economy), models incorporating the heterogeneity of individuals, and effects on less-regulated parts of the system. The recent COVID-19 crisis has demonstrated that, apart from the direct economic consequences from illness and death from the virus, the main costs have been due to the varying degrees of preventative measures taken by the public, firms, and governments that directly impacted health, as well as social, economic, and financial activity. We make recommendations for carrying out post mortems on the COVID-19 experience, planning for future pandemics, and establishing transparent and accountable governance systems. We then propose the use of regular, combined health, economic, and financial stress tests and exercises/war games in preparing for future pandemics and other major environmental shocks.

Germany

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 104 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Germany by : International Monetary Fund. Monetary and Capital Markets Department

Download or read book Germany written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2022-08-16 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: The financial sector weathered COVID relatively well on the back of high pre-crisis capital and liquidity buffers, strong public and private sector balance sheets, and unprecedented public and ECB support. Immediate risks to Germany’s financial stability of Russia’s invasion of Ukraine appear to be manageable due to the banks’ limited direct exposures to Russia. However, risks associated with the economic fallout could impact some individual financial institutions, non-performing loans, and house prices. Real GDP growth was projected to regain momentum from mid-2022 onwards, but the war could hinder the recovery through supply constraints, higher-than-expected above-target inflation (with higher energy prices and supply constraints), a tightening of financial conditions, and shifts in investors’ confidence.

Slum Health

Author : Jason Corburn
Publisher : Univ of California Press
ISBN 13 : 0520962796
Total Pages : 337 pages
Book Rating : 4.5/5 (29 download)

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Book Synopsis Slum Health by : Jason Corburn

Download or read book Slum Health written by Jason Corburn and published by Univ of California Press. This book was released on 2016-06-07 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: Urban slum dwellers—especially in emerging-economy countries—are often poor, live in squalor, and suffer unnecessarily from disease, disability, premature death, and reduced life expectancy. Yet living in a city can and should be healthy. Slum Health exposes how and why slums can be unhealthy; reveals that not all slums are equal in terms of the hazards and health issues faced by residents; and suggests how slum dwellers, scientists, and social movements can come together to make slum life safer, more just, and healthier. Editors Jason Corburn and Lee Riley argue that valuing both new biologic and “street” science—professional and lay knowledge—is crucial for improving the well-being of the millions of urban poor living in slums.

Ask a Manager

Author : Alison Green
Publisher : Ballantine Books
ISBN 13 : 0399181822
Total Pages : 306 pages
Book Rating : 4.3/5 (991 download)

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Book Synopsis Ask a Manager by : Alison Green

Download or read book Ask a Manager written by Alison Green and published by Ballantine Books. This book was released on 2018-05-01 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the creator of the popular website Ask a Manager and New York’s work-advice columnist comes a witty, practical guide to 200 difficult professional conversations—featuring all-new advice! There’s a reason Alison Green has been called “the Dear Abby of the work world.” Ten years as a workplace-advice columnist have taught her that people avoid awkward conversations in the office because they simply don’t know what to say. Thankfully, Green does—and in this incredibly helpful book, she tackles the tough discussions you may need to have during your career. You’ll learn what to say when • coworkers push their work on you—then take credit for it • you accidentally trash-talk someone in an email then hit “reply all” • you’re being micromanaged—or not being managed at all • you catch a colleague in a lie • your boss seems unhappy with your work • your cubemate’s loud speakerphone is making you homicidal • you got drunk at the holiday party Praise for Ask a Manager “A must-read for anyone who works . . . [Alison Green’s] advice boils down to the idea that you should be professional (even when others are not) and that communicating in a straightforward manner with candor and kindness will get you far, no matter where you work.”—Booklist (starred review) “The author’s friendly, warm, no-nonsense writing is a pleasure to read, and her advice can be widely applied to relationships in all areas of readers’ lives. Ideal for anyone new to the job market or new to management, or anyone hoping to improve their work experience.”—Library Journal (starred review) “I am a huge fan of Alison Green’s Ask a Manager column. This book is even better. It teaches us how to deal with many of the most vexing big and little problems in our workplaces—and to do so with grace, confidence, and a sense of humor.”—Robert Sutton, Stanford professor and author of The No Asshole Rule and The Asshole Survival Guide “Ask a Manager is the ultimate playbook for navigating the traditional workforce in a diplomatic but firm way.”—Erin Lowry, author of Broke Millennial: Stop Scraping By and Get Your Financial Life Together

Statement by The Managing Director on the Work Program of The Executive Board

Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1513549782
Total Pages : 4 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Statement by The Managing Director on the Work Program of The Executive Board by : International Monetary Fund

Download or read book Statement by The Managing Director on the Work Program of The Executive Board written by International Monetary Fund and published by International Monetary Fund. This book was released on 2020-07-09 with total page 4 pages. Available in PDF, EPUB and Kindle. Book excerpt: The COVID 19 crisis continues to take a heavy human and economic toll. The outlook remains highly uncertain as many countries are facing the economic fallout of the pandemic. This has led to an unprecedented surge in demand for Fund support and a strain on staff resources. Against this backdrop, and in line with the strategic priorities laid out in the Spring 2020 Global Policy Agenda and the International Monetary and Financial Committee Communiqué, this crisis focused Work Program (WP) lays out essential work during May to October aimed at helping countries to mitigate the crisis, restore stability, and prepare for a strong and sustainable recovery. The WP implies a large increase in Board items compared with last year, reflecting mostly informal and more frequent updates on how this rapidly evolving crisis affects economic and financial developments and relevant policies. Other work streams are delayed; they are outlined in the WP and will be included in the Board agenda once there is more clarity on how the evolution of the pandemic will impact crisis related work.