The Managing Director’s Global Policy Agenda, Spring Meetings 2021: Bolstering the Recovery, Countering the Divergence

Policy Papers, April 7, 2021

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An unprecedented policy response and rapid progress in vaccine development have helped pull the global economy from a deep recession.
The outlook is marked by high uncertainty and great divergence.
Carefully calibrated policies and stronger international cooperation are vital to safely exit the crisis.
Transformative policies should aim for fast convergence toward a green, digital, and inclusive future.

Policy response: The global policy response to the crisis has been unprecedented in scale.
Vaccine development: Rapid progress in vaccine development has materially supported the recovery.
Divergence and uncertainty: The recovery is uneven; the outlook faces high uncertainty and great divergence across countries and regions.
Transformation priorities: Policies should prioritize convergence toward:
- green objectives,
- digital adoption,
- inclusive growth.

Carefully calibrated national policies to manage the exit from crisis-support measures without jeopardizing recovery.
Stronger international cooperation to address cross-border spillovers and global public goods (including vaccine distribution and climate action).
Transformative policy agendas focused on fast convergence to a green, digital, and inclusive future to sustain recovery and reduce divergence.

Subject: Asset and liability management, Climate change, COVID-19, Debt relief, Economic growth, Environment, Financial sector policy and analysis, Financial sector risk, Health, Inclusive growth, Monetary policy, Political economy
Keywords: Climate change, counter the divergence, COVID-19, debt agenda, Debt relief, enterprise risk management program, Financial sector risk, fund surveillance, Global, Inclusive growth, Policy agenda spring meetings 2021