The Role of the IMF in a changing Global Landscape Jayati Ghosh

Testimony to US House of Representatives Committee on Financial Services, Sub Committee on National Security, International Development and Monetary Policy, Virtual Hearing on February 17, 2022.

The Covid-19 epidemic has widened the disparities between affluent and poor countries (other than China).  Most developing nations are dealing with a substantially harsher external environment, and their resources are now even more limited than before. This has already resulted in decreased employment, major increases in poverty and hunger, and poor economic prospects for the near future. This process inhibits the increase of global effective demand, limiting the possibility of global economic recovery.

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