## Statement by The Managing Director on the Work Program of The Executive Board: June 11, 2020

_Policy Papers, July 9, 2020_

## Source details

**Canonical URL:** [Statement by The Managing Director on the Work Program of The Executive Board: June 11, 2020](https://www.imf.org/en/publications/policy-papers/issues/2020/07/08/statement-by-the-managing-director-on-the-work-program-of-the-executive-board-june-11-2020-49562)

## Other formats

- [Markdown version](/en/publications/policy-papers/issues/2020/07/08/statement-by-the-managing-director-on-the-work-program-of-the-executive-board-june-11-2020-49562/index.md)
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## Bibliographic details
- Published: July 9, 2020
- Series: Policy Papers
- DOI: https://doi.org/10.5089/9781513549781.007

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### Overview
- The COVID 19 crisis continues to take a heavy human and economic toll.
- The outlook remains highly uncertain as many countries are facing the economic fallout of the pandemic.
- The crisis has led to an unprecedented surge in demand for Fund support and a strain on staff resources.
- In line with the Spring 2020 Global Policy Agenda and the International Monetary and Financial Committee Communiqué, a crisis-focused Work Program (WP) is set out for May to October to help countries mitigate the crisis, restore stability, and prepare for a strong and sustainable recovery.
- The WP implies a large increase in Board items compared with last year, reflecting mostly informal and more frequent updates on how this rapidly evolving crisis affects economic and financial developments and relevant policies.
- Other work streams are delayed and will be included in the Board agenda once there is more clarity on how the evolution of the pandemic will impact crisis related work.

### Key elements of the Work Program (May to October)
- Crisis-focused prioritization to address immediate mitigation, stability restoration, and recovery preparation.
- Increased frequency of Board items, largely informal updates on evolving economic and financial developments.
- Deferred non-crisis work streams to be scheduled when pandemic evolution permits clearer planning.

### Policy focus and priorities
- Helping countries to mitigate the crisis.
- Restoring economic and financial stability.
- Preparing for a strong and sustainable recovery.
- Aligning with strategic priorities from the Spring 2020 Global Policy Agenda and the International Monetary and Financial Committee Communiqué.

### Operational implications
- Unprecedented surge in demand for Fund support.
- Strain on staff resources due to expanded crisis-related workload.
- Large increase in Board items compared with last year, with emphasis on informal and frequent updates.
- Delays to other work streams until greater clarity on pandemic impacts.

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## Content in this bundle

- **Policy Paper**
  - [Policy Paper (Markdown version)](/-/media/files/publications/pp/2020/english/ppea2020032.pdf.md){rel="alternate" type="text/markdown"}
  - [Policy Paper (PDF)](/-/media/files/publications/pp/2020/english/ppea2020032.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/policy-papers/issues/2020/07/08/statement-by-the-managing-director-on-the-work-program-of-the-executive-board-june-11-2020-49562_