IMF releases 2021 Annual Report
As of end-April 2021, loans have been approved to 86 countries of more than $110 billion—a record number. But even though the recovery is underway, the economic fallout from the pandemic will be with us for years to come.
The crisis exacerbated existing, prepandemic vulnerabilities, and countries’ prospects are diverging. Nearly half of emerging market and developing economies and some middle-income countries risk falling further behind, undoing much of the progress made toward achieving the UN Sustainable Development Goals. Within countries, inequality is on the rise as well; workers with fewer skills, youth, women, and those informally employed are suffering disproportionate income losses.
Sustaining the recovery will require an ongoing policy push, including to secure and expand access to vaccines and to maintain economic lifelines and targeted policy support, tailored to the stage of the pandemic, the strength of the economic recovery, and countries’ structural characteristics.
The 2021 Annual Report highlights the IMF’s work on the response to COVID-19; the great divergence; debt; and building toward a green, inclusive, and digital future. In FY 2021, the IMF continued to support its members in our three core areas of activity:
- Economic surveillance: 36 country health checks completed.
- Lending: $98 billion to 54 countries, including $10 billion to 31 low-income countries (for a total of $110+ billion since the start of the pandemic).
- Capacity development: $251 million for hands-on technical advice, policy-oriented training, and peer learning.
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