{
  "title": "What the G20 Can Do to Help the Global Recovery",
  "publication": "IMF Blog, February 24, 2016",
  "sourceUrl": "https://www.imf.org/en/blogs/articles/2016/02/24/what-the-g20-can-do-to-help-the-global-recovery",
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  "summary": "Publication: iMFdirect, February 24, 2016.",
  "sections": [
    {
      "heading": "Context and timing",
      "content": "- Publication: iMFdirect, February 24, 2016.\n- Versions available in عربي and Español.\n- Event: First ministerial meeting under China's Group of Twenty presidency in Shanghai (finance ministers and central bank governors).\n- Background note for the meeting: \"Global Prospects and Policy Challenges\" (referred to as the G20 Note)."
    },
    {
      "heading": "Diagnosis — why weaker growth?",
      "content": "- The G20 Note identifies several factors contributing to a tepid global recovery:\n  - Concerns about the global impact of China’s transition to more balanced growth.\n  - Signs of distress in other large emerging markets, including effects from falling commodity prices.\n  - A rise in global risk aversion, leading to substantial declines in equity markets.\n  - Additional potential shocks of non-economic origin (geopolitical conflicts, refugees, terrorism, global epidemics) that could significantly impact economic activity.\n- Conclusion from the G20 Note: \"There is less room for complacency now.\""
    },
    {
      "heading": "Policy recommendations — national level",
      "content": "- General prescription:\n  - Use a mix of demand support and structural reform; if done right, these policies will re-enforce each other and create stronger and more sustainable growth.\n- Role of monetary policy:\n  - Accommodative monetary policy remains very much needed, but \"cannot do it alone.\"\n- Fiscal policy and balance sheet repair:\n  - Include fiscal policy where there is fiscal space.\n  - Emphasize balance sheet repair.\n- Advice for emerging market commodity exporters affected by lower commodity prices:\n  - Where feasible, make use of fiscal buffers.\n  - Let the exchange rate help with the adjustment."
    },
    {
      "heading": "Policy recommendations — multilateral / G20 level",
      "content": "- Urgency of coordination:\n  - The G20 must plan now and proactively identify policies that could be rolled out quickly if downside risks materialize.\n- Collective efforts recommended in the G20 Note:\n  - Enhance the global financial safety net.\n  - Ring-fence spillovers from non-economic shocks."
    },
    {
      "heading": "Key institutional and attributional information",
      "content": "- The IMF is based in Washington D.C. and is \"an organization of 191 countries, working to foster global monetary cooperation and financial stability around the world.\"\n- About the blog: IMFBlog is a forum for the views of IMF staff and officials on pressing economic and policy issues of the day.\n- Disclaimer: \"The views expressed are those of the author(s) and do not necessarily represent the views of the IMF and its Executive Board.\"\n\nSource: iMFdirect article \"What the G20 Can Do to Help the Global Recovery\", February 24, 2016.\n\n---\n\n\n References\n\n- عربي\n- Global Prospects and Policy Challenges\n- refugees\n\nSource: https://www.imf.org/en/blogs/articles/2016/02/24/what-the-g20-can-do-to-help-the-global-recovery"
    }
  ],
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    "Authors: iMFdirect",
    "Published: February 24, 2016",
    "Publication: iMFdirect, February 24, 2016.",
    "Versions available in عربي and Español.",
    "Event: First ministerial meeting under China's Group of Twenty presidency in Shanghai (finance ministers and central bank governors).",
    "Background note for the meeting: \"Global Prospects and Policy Challenges\" (referred to as the G20 Note).",
    "The G20 Note identifies several factors contributing to a tepid global recovery:",
    "Conclusion from the G20 Note: \"There is less room for complacency now.\"",
    "General prescription:",
    "Role of monetary policy:",
    "Fiscal policy and balance sheet repair:",
    "Advice for emerging market commodity exporters affected by lower commodity prices:",
    "Urgency of coordination:",
    "Collective efforts recommended in the G20 Note:",
    "The IMF is based in Washington D.C. and is \"an organization of 191 countries, working to foster global monetary cooperation and financial stability around the world.\"",
    "About the blog: IMFBlog is a forum for the views of IMF staff and officials on pressing economic and policy issues of the day.",
    "Disclaimer: \"The views expressed are those of the author(s) and do not necessarily represent the views of the IMF and its Executive Board.\"",
    "[عربي](http://blog-montada.imf.org/?p=4039)",
    "[Global Prospects and Policy Challenges](http://www.imf.org/external/np/g20/022616.htm)",
    "[refugees](http://www.imf.org/external/np/sec/pr/2016/pr1613.htm)"
  ],
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  "generatedAtUtc": "2026-08-27T21:50:23.444Z"
}