2020 IMF Annual Report Showcases “A Year Like No Other”

November 16, 2020/IMF

The global economy is facing a deep recession with the ongoing impact of COVID-19. Uncertainty remains around the outlook, alongside long-term forces that shape and influence countries’ response to the virus and the recovery. People all over the world have seen profound changes in their lives: economic recession, unemployment, climate change, technology and the automation of jobs, the rise of digital currencies, lower returns on their savings, and rising inequality and debt.

As the world faces a crisis like no other, the IMF and its members have 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 2020 IMF Annual Report focuses on COVID-19 response, the impact of economics on people’s lives, debt, climate change, and fintech.

In FY 2020, the IMF continued to support its members in three core areas of activity:

  • Economic surveillance: 129 country health checks completed.
  • Lending: $165 billion to 83 countries, including $16.1 billion of concessional financing to 49 low-income countries.
  • Capacity development: $305 million for hands-on technical advice, policy-oriented training, and peer learning

Read the report here.

Note: The 2020 IMF Annual Report covers the activities of the Executive Board and IMF management and staff during the financial year May 1, 2019, through April 30, 2020, and in some cases more recently.

Background:

The Annual Report website includes the IMF’s financial statements for FY 2020 and other background documentation. Copies of the Annual Report and the financial statements are available free of charge from IMF Publication Services, P.O. Box 92780, Washington, DC 20090, online at www.imfbookstore.org or www.elibrary.IMF.org, or by e-mail at publications@IMF.org.

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