## Development Committee: The Managing Director's Written Statement

_Policy Papers, April 23, 2026_

## Source details

**Canonical URL:** [Development Committee: The Managing Director's Written Statement](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)

## Other formats

- [Markdown version](/en/publications/policy-papers/issues/2026/04/23/the-managing-director-s-written-statement-the-managing-director-s-written-statement-575622/index.md)
- [Structured JSON version](/en/publications/policy-papers/issues/2026/04/23/the-managing-director-s-written-statement-the-managing-director-s-written-statement-575622/index.json)
- [Bundle manifest](/en/publications/policy-papers/issues/2026/04/23/the-managing-director-s-written-statement-the-managing-director-s-written-statement-575622/bundle-manifest.json)

## Bibliographic details
- Published: April 23, 2026
- Series: Policy Papers
- DOI: https://doi.org/10.5089/9798229043885.007

---

### Global spillovers and overall assessment
- 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.

### Transmission channels to Low-Income Developing Countries (LIDCs)
- Spillovers to Low-Income Developing Countries (LIDCs) will transmit through:
  - supply disruptions
  - higher commodity prices
  - second-round effects on inflation and expectations
  - tighter global financial conditions
  - exchange rate pressures
  - reduced remittances from members of the Gulf Cooperation Council (GCC)

### Policy guidance and recommended approach
- 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.

### Role of the international community and the IMF
- 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.

### Metadata and publication identifiers (as stated in the source)
- 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

*International Monetary Fund. "Development Committee: The Managing Director's Written Statement", April 23, 2026.*

---

## Content in this bundle

- **Policy Paper**
  - [Policy Paper (Markdown version)](/-/media/files/publications/pp/2026/english/ppea2026010.pdf.md){rel="alternate" type="text/markdown"}
  - [Policy Paper (PDF)](/-/media/files/publications/pp/2026/english/ppea2026010.pdf){rel="external" type="application/pdf"}

---

_Source: 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_