IMF / Fiscal Monitor Report Press Briefing Summary
07 Apr 2021
WASHINGTON DC, United States
1. Wide shot, IMF building Exterior with Spring Meetings signage
2. Wide shot, IMF logo on building
3. Wide shot, Crew in IMF studio
7 April 2021, WASHINGTON DC
4. SOUNDBITE (English) Vitor Gaspar, Director of the Fiscal Affairs Department at the IMF.
“The response of fiscal policy was unprecedented in speed and size. Government provided fiscal support in a timely and decisive way. In the last twelve months, countries have announced 16 trillion dollars in fiscal actions. In most countries, the fiscal response was an order of magnitude larger than the norm for business cycle fluctuations that was fully justified. As Covid-19 is a health emergency, it was crucial to financially enable health systems and to extend emergency lifelines to households and firms,”
5. Long shot, Paolo Mauro speaking
6. SOUNBITE (English) Vitor Gaspar, Director of the Fiscal Affairs Department at the IMF.
“A fair shot reminds us of an amazing success in 2020, the fast development of highly effective vaccines and the start of the vaccination process, but progress has been very uneven across countries and regions of the world. If progress in vaccination is accelerated further and reaches everybody, the health, social, economic and financial benefits would be enormous. Even a narrow focus on tax revenue for advanced economies alone identifies potential gains of more than one trillion dollars over the medium term. Vaccination may well be the highest return global public project ever identified,”
7. Long shot, Paolo Mauro speaking
8. SOUNDBITE (English) Vitor Gaspar, Director of the Fiscal Affairs Department at the IMF.
“ Countries are in different stages of covid-19 and of the economic recovery; structural characteristics, institutional characteristics are also distinct. The set of viable policies depends on financing constraints. It is important to stress that developing countries are facing dramatic tradeoffs going forward. There is the risk that access to financing will become even harder. The bottom line is fiscal policy must be tailored to fit country specific circumstances,”
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9. Wide shot, IMF building exterior with virtual Spring Meetings signage
Brian WalkerMedia Relations OfficerUnited StatesBWalker@imf.org+1 (202) 623-7381+1 (202) 286-5839