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Yi Gang attended the 41st international monetary a
Published:4/17/2020 3:07:08 PMViews: 63
On April 16, the 41st session of the international monetary and Financial Committee (IMFC) was held in the form of video, mainly discussing issues such as the impact of the epidemic on the global economy and the global policy agenda of the International Monetary Fund (hereinafter referred to as "IMF"). Yi Gang, President of the people's Bank of China, and Chen Yulu, vice president attended the meeting.
The meeting pointed out that the epidemic has plunged the world into an unprecedented crisis. This year, the global economy will shrink significantly and it is expected to recover next year. Many countries are facing severe challenges, especially many emerging market economies and developing countries will face multiple challenges, such as export demand and falling commodity prices, capital outflow and so on.
The meeting promised that all parties will continue to use all available policy tools to fight the epidemic, protect employment and restore the economy. A number of macroeconomic measures have been taken, and further fiscal, monetary and financial stability policies will be adopted, as necessary, to promote strong, sustainable, balanced and inclusive growth.
The meeting stressed that all parties supported IMF in providing assistance to member countries through financial support, policy advice and capacity-building, and welcomed the package of measures launched by IMF in response to the crisis, including increasing emergency financing lines and launching short-term liquidity loan tools.
The meeting reaffirmed its commitment to maintaining a strong, share based, well resourced fund and to maintaining its central role in the global financial safety net. All parties committed to continue to push forward the 16th General Inspection of shares and the reform of IMF governance.
President Yi Gang introduced China's economic situation, saying that China's epidemic prevention and control situation continued to improve, and the order of production and life accelerated to recover. China's economic growth remains resilient, and the fundamentals of long-term growth remain unchanged. China supports IMF to play a core role in the global financial security network, continue to promote international macroeconomic policy coordination, provide strong support to member countries in fighting the epidemic, and promote global economic growth and financial market stability.