IMF / European Regional Economic Outlook Press Briefing

ID

570948

SHOOT DATE

21 Oct 2020

SHOOT LOCATION

Washington, D.C., United States

PRODUCTION COMPANY

IMF

DESCRIPTION
IMF / European Regional Economic Outlook Press Briefing
SHOTLIST
RECENT - WASHINGTON DC
1. Wide shot, IMF building exterior with annual meetings signage
2. Medium shot, Annual meetings signage on IMF building
3. Wide shot, Alfred Kammer and Meera Louis in IMF studio

21 OCTOBER 2020, WASHINGTON DC

3. SOUNDBITE (English) Alfred Kammer, Director, European Department, IMF
“7% decline in Europe's GDP in 2020. The recovery from this crisis will be uneven and partial by real GDP is projected to rebound by 4.7% in 2021. It would still be lower by 6.3% in 2021 relative to our pre-pandemic projections. This implies a GDP loss of almost €3 million, and much of this loss will not be recouped over the medium term,”
4. Wide shot, Meera Louis speaking
5. SOUNDBITE (English) Alfred Kammer, Director, European Department, IMF
“Our report finds that in advanced economies, around one-third of the pandemic induced solvency shortfall could be addressed by announced policies such as wage subsidies, grants, or tax rebates. In emerging Europe, it is only around one quarter. Thus, policies need to be put in place that facilitate speedy debt restructuring in or outside of bankruptcy or in some cases make equity available to viable firms,”
6. Wide shot, Alfred Kammer speaking
7. SOUNDBITE (English) Alfred Kammer, Director, European Department, IMF
“This is indeed going to be a very long ascent into recovery. And the estimate for Europe, it will take until 2022- 23 for most countries to return to 2019 levels of GDP. So that is a long return to the very good already in 2019. As I said, the key priority needs to be that we support lives and livelihoods and therefore we need to keep the support policies in place throughout the second wave. Until we have controlled the pandemic and until we have fully entrenched the recovery,”
9. Medium shot, Alfred Kammer speaking
10. SOUNDBITE (English) Alfred Kammer, Director, European Department, IMF
“We have been advocating that countries should put in place plans for the medium term on how they will reestablish fiscal buffers so that we are ready for another crisis, that we have fiscal room in order to respond to any shocks to the economy. So, in addition to putting debt on a downward trajectory, we also need to build buffers so that the economies in the future, again, can respond to a crisis,”
RECENT - WASHINGTON DC
11. Zoom out shot, IMF logo on building and annual meetings signage
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