The International Monetary Fund: Protecting the Global Economy and Propelling a Sustainable Recovery

A discussion with Richard Farber, former Alternate Executive Director at the IMF.

Wednesday, May 5, 2021
5:00 PM (Pacific Time)
Webinar

ABOUT THE WEBINAR

Join the UCLA Anderson Center for Global Management (CGM) and Professor Sebastian Edwards, in a moderated discussion with Richard Farber (’88), who recently completed his term as Alternate Executive Director at the IMF. In this position, he represented the United States on the IMF’s Executive Board, ensuring the stability of the international monetary system and providing financial assistance to members focusing on low-income, fragile, conflict-affected states, and emerging markets. Farber will address the history, role and purpose of the IMF, the world’s crisis lender, the diverging impact of COVID-19 on member countries and explain how the IMF continues to support countries on the path to recovery by providing policy advice, financial support, capacity development, and debt relief for the poorest. He will also explore how the IMF is enhancing its support to member countries as they pursue their Sustainable Development Goals.

The COVID-19 pandemic has caused an unprecedented public health, economic, and social crisis, threatening the lives and livelihoods of millions. The economic shock is increasing poverty, worsening inequalities, and reversing development gains. Economic recoveries are diverging across countries and sectors, reflecting variation in pandemic-induced disruptions and the extent of policy support. Emerging market economies and low-income developing countries face rising public debt levels, are more vulnerable to financial stress and expected to suffer more significant medium-term losses. While a vibrant private sector will be essential for countries to recover, create jobs, and embrace economic transformation, strong coordination across bilateral and multilateral organizations such as the International Monetary Fund (IMF) and World Bank will play a crucial role to contain the impacts of the pandemic and build up the foundation of strong international cooperation for a green, smart and inclusive recovery.

ABOUT THE WORLD TODAY DISCUSSION SERIES

The objective of this series is to engage students in dialogue in an interactive, engaging and enriching discussion format around current global issues that transcend borders. Through this series, we engage our globally minded students with issues that matter and ideas that stimulate. Through balanced discourse, the series serves as a neutral forum to educate students on global issues while at the same time encourage debate and examination. Students are expected to participate in the discussion.