{
  "title": "Development Committee: The Managing Director's Written Statement",
  "publication": "Policy Papers, April 23, 2026",
  "sourceUrl": "https://www.imf.org/en/publications/policy-papers/issues/2026/04/23/the-managing-director-s-written-statement-the-managing-director-s-written-statement-575622",
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  "summary": "The world faces the spillovers from the war in the Middle East. In addition to the human toll, its economic effects are global and uneven, once again hitting the poorest and most vulnerable countries the hardest.",
  "sections": [
    {
      "heading": "Global spillovers and overall assessment",
      "content": "- The world faces the spillovers from the war in the Middle East.\n- Economic effects are described as global and uneven, hitting the poorest and most vulnerable countries the hardest.\n- This comes at a time when policy space has been eroded and geopolitical tensions have been increasing."
    },
    {
      "heading": "Transmission channels to Low-Income Developing Countries (LIDCs)",
      "content": "- Spillovers to Low-Income Developing Countries (LIDCs) will transmit through:\n  - supply disruptions\n  - higher commodity prices\n  - second-round effects on inflation and expectations\n  - tighter global financial conditions\n  - exchange rate pressures\n  - reduced remittances from members of the Gulf Cooperation Council (GCC)"
    },
    {
      "heading": "Policy guidance and recommended approach",
      "content": "- The appropriate policy response depends on how the shock propagates through the domestic economy, calling for pragmatism and agility, supported by credible policy frameworks.\n- In LIDCs, near term policies should be anchored in credible frameworks.\n- Concerted efforts are key to enhance resilience and growth potential.\n- Domestic structural reforms, including building strong institutions, have an important role in the medium-term to attract stronger FDI inflows and create jobs."
    },
    {
      "heading": "Role of the international community and the IMF",
      "content": "- Robust support from the international community will be essential—especially for the most vulnerable LIDCs and fragile and conflict-affected states (FCS).\n- The IMF stands ready to deploy all its tools to assist the membership—supporting sound policies, helping ensure this new test does not derail key medium-term priorities, and providing balance of payments financing where needed."
    },
    {
      "heading": "Metadata and publication identifiers (as stated in the source)",
      "content": "- Publication date: April 23, 2026\n- Pages: 7\n- Volume: 2026\n- Issue: 010\n- Series: Policy Paper No. 2026/010\n- DOI: https://doi.org/10.5089/9798229043885.007\n- Stock No: PPEA2026010\n- ISBN: 9798229043885\n- ISSN: 2663-3493\n- Subject keywords: Central bank autonomy, Central banks, Inflation, Macrostructural analysis, Prices, Public debt, Structural reforms\n- Geographic/Topical keywords: Caribbean, Middle East, Middle East and Central Asia, Global\n\nInternational Monetary Fund. \"Development Committee: The Managing Director's Written Statement\", April 23, 2026.\n\n---\n\n Content in this bundle\n\n- Policy Paper\n  - Policy Paper (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Policy Paper (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/policy-papers/issues/2026/04/23/the-managing-director-s-written-statement-the-managing-director-s-written-statement-575622"
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    "Published: April 23, 2026",
    "Series: Policy Papers",
    "DOI: https://doi.org/10.5089/9798229043885.007",
    "The world faces the spillovers from the war in the Middle East.",
    "Economic effects are described as global and uneven, hitting the poorest and most vulnerable countries the hardest.",
    "This comes at a time when policy space has been eroded and geopolitical tensions have been increasing.",
    "Spillovers to Low-Income Developing Countries (LIDCs) will transmit through:",
    "The appropriate policy response depends on how the shock propagates through the domestic economy, calling for pragmatism and agility, supported by credible policy frameworks.",
    "In LIDCs, near term policies should be anchored in credible frameworks.",
    "Concerted efforts are key to enhance resilience and growth potential.",
    "Domestic structural reforms, including building strong institutions, have an important role in the medium-term to attract stronger FDI inflows and create jobs.",
    "Robust support from the international community will be essential—especially for the most vulnerable LIDCs and fragile and conflict-affected states (FCS).",
    "The IMF stands ready to deploy all its tools to assist the membership—supporting sound policies, helping ensure this new test does not derail key medium-term priorities, and providing balance of payments financing where needed.",
    "Publication date: April 23, 2026",
    "Pages: 7",
    "Volume: 2026",
    "Issue: 010",
    "Series: Policy Paper No. 2026/010",
    "DOI: https://doi.org/10.5089/9798229043885.007",
    "Stock No: PPEA2026010",
    "ISBN: 9798229043885",
    "ISSN: 2663-3493",
    "Subject keywords: Central bank autonomy, Central banks, Inflation, Macrostructural analysis, Prices, Public debt, Structural reforms",
    "Geographic/Topical keywords: Caribbean, Middle East, Middle East and Central Asia, Global",
    "**Policy Paper**"
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