The Managing Director of the IMF and the Heads of the RFAs emphasize their readiness to cooperate to mitigate the impact of COVID-19 on the global economy.<\/p>\n
The officials held a teleconference on Tuesday and reported on efforts taken by their institutions to forcefully address the impacts of the COVID-19 outbreak on the global economy.<\/p>\n
Stressing the urgent need for combined, multilateral efforts to face the extraordinary human and economic crisis caused by the pandemic.<\/p>\n
The Regional Financing Arrangements, for their part, are supporting their members through lending activities, adjustments of policies and toolkits to make them compatible with the emergency nature of the COVID-19 crisis, and policy and technical advice to help their authorities through these challenging economic times.<\/p>\n
Regional rescue funds are closely coordinating with IMF country teams to exchange information and expertise necessary to expeditiously address the needs of countries facing the most pressing financing needs.<\/p>\n
Regional Financing Arrangements (RFAs) are mechanisms or agreements through which groups of countries mutually pledge financial support to countries experiencing financial difficulties in their regions.<\/p>\n
Participants of the meeting included managing Director of the International Monetary Fund (IMF), Ms. Kristalina Georgieva; Director General Chairman of the Board of the Arab Monetary Fund, Mr. Abdulrahman Al-Hamidy; Director of ASEAN+3 Macroeconomic Research Office (AMRO), the surveillance unit of the Chiang Mai Initiative Multilateralisation (CMIM), Mr. Toshinori Doi; Managing Director of the Eurasian Fund for Stabilization and Development (EFSD), Mr. Andrey Shirokov; Deputy Director-General for Economic and Financial Affairs of the European Commission (EC), Mr. Declan Costello; Managing Director of the European Stability Mechanism, Mr. Klaus Regling; Executive President of Latin American Reserve Fund (FLAR), Mr. Jose Dario Uribe; co-chair of the G20 International Financial Architecture Working Group (G20 IFA WG), Mr. Guillaume Chabert. <\/p>\n","protected":false},"excerpt":{"rendered":"
The Managing Director of the IMF and the Heads of the RFAs emphasize their readiness to cooperate to mitigate the impact of COVID-19 on the global economy. The officials held a teleconference on Tuesday and reported on efforts taken by their institutions to forcefully address the impacts of the COVID-19 outbreak on the global economy. […]<\/p>\n","protected":false},"author":1,"featured_media":42729,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3090,2,21],"tags":[3222,409,2402],"class_list":["post-42728","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-coronavirus","category-featured","category-world-news","tag-covid-19","tag-global-economy","tag-imf"],"yoast_head":"\n