## Managing Director Georgieva’s Remarks at the Global Steering Group Global Impact Summit

_IMF News, September 10, 2020_

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## Bibliographic details
- Published: September 10, 2020

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### Major themes and findings
- The global economy is undergoing a "massive transformation."
- The COVID-19 crisis has caused societies and economies to "cocoon" and undergo fundamental change; "The actions we take now—this year and next—will determine what kind of world emerges."
- A job-rich recovery and fighting climate change are mutually supportive: "many jobs of the future will be in the green economy."
- Sustainable finance and impact investing are important tools to shape a post-COVID world and support financial stability: "financial stability will depend on environmental and social sustainability."

### Policy recommendations and action priorities
- Governments and investors must:
  - "identify what are the viable businesses of tomorrow that should be supported."
  - "with great care, how they support workers in businesses that are no longer viable—to make a transition to jobs in sectors that are due to expand."
  - ensure what emerges is "resilient, sustainable" and helps "deal with the shocks of a changing climate already imposed upon us."
- Price in and advance sustainability across the financial sector and government policy: "it’s important that both the financial sector and governments act to price in and advance sustainability."
- Rely on impact data to guide policy and investment:
  - "It can help governments ensure that polluters pay."
  - "It can drive progress in all the areas we must work on to build a greener, smarter, fairer recovery for everyone."

### IMF actions and examples cited
- The IMF included "a chapter on sustainable finance" in the Global Financial Stability Report last year to reflect the view that sustainability matters for financial stability: "We have done it because it is clear that financial stability will depend on environmental and social sustainability."

### Selected quotations
- "We can build a job-rich recovery now that powers a sustainable, resilient global economy for the long term."
- "In short, it can help us emerge from the COVID into a more beautiful world."
- Quoted inspiration: Dr. Maya Angelou — "We delight in the beauty of the butterfly, but rarely admit the changes it has to go through to achieve that beauty."

*Managing Director Georgieva’s Remarks at the Global Steering Group Global Impact Summit — Washington, D.C., September 10, 2020*

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## References

- [https://www.imf.org/en/about/senior-officials/bios/kristalina-georgieva](https://www.imf.org/en/about/senior-officials/bios/kristalina-georgieva)
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_Source: https://www.imf.org/en/news/articles/2020/09/10/091020-md-remarks-at-the-global-steering-group-global-impact-summit_