IMF WEO Global Growth Forecast

ID

563140

SHOOT DATE

24 Jun 2020

SHOOT LOCATION

Washington, DC, United States

PRODUCTION COMPANY

IMF

DESCRIPTION
IMF WEO Global Growth Forecast
SHOTLIST
Washington, DC --- 22 June 2020
1. Wideshot of closed IMF Headquarters, various street scenes

Washington, DC --- 24 June 2020
2. IMF team walking to microphones with masks on
3. SOUNDBITE: (English) Gita Gopinath, IMF Research Department Director / Chief Economist:
“This is an unprecedented crisis, and this is indeed the worst recession since the Great Depression. It was already the worst recession since the Great Depression in April when we had projected growth for 2020 to be at minus three percent. But now at minus four-point nine percent, that is even more strongly true. And no country has been spared both emerging market developing economies, advanced economies have all been very badly hit during this crisis.”
4. Cutaway Wideshot
5. SOUNDBITE: (English) Gita Gopinath, IMF Research Department Director / Chief Economist:
“These projections imply a committed cumulative loss to the global economy over two years of over twelve trillion dollars from this crisis. The downgrade from April reflects worse than anticipated outcomes in the first half of this year, an expectation of more persistent social distancing into the second half of this year and damage to supply potential.”
6. Cutaway Wideshot
7. SOUNDBITE: (English) Gita Gopinath, IMF Research Department Director / Chief Economist:
“We're not out of the woods. The health crisis is not over. And so we could see a potential second wave. What we've assumed in our baseline number is that there could be an increase in the number of infections. However, we are not going to see the kind of stringent lockdowns that were needed in the first half of this year.”
8. Cutaway Wideshot
9. SOUNDBITE: (English) Gita Gopinath, IMF Research Department Director / Chief Economist:
“Indeed, when the recovery is stronger, we are in a better place with the health crisis better able to manage it than countries will have to undertake medium term fiscal management. And when a while, through a combination of expenditure and revenue measures and as of now, countries should make sure that they are following best practices, that they're putting proper safeguards in place using, you know, making sure there's proper fiscal accounting and fiscal transparency. But as of now, the need of the hour is for this kind of policy support.”

Washington, DC --- 22 June 2020
10. Exterior street scene of IMF Headquarters
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