Elections/Legislation/Government

World leaders met for annual IMF, World Bank and G20 meetings. The IMF lowered economic growth projections for all countries, and downgraded United States growth projections for 2021.

The IMF World Economic Outlook report lowered economic growth projections for wealthy and poor countries. The IMF forecasts 5.9% global economic growth.

"What's most striking is that we are looking at economies declining both in wealthy and poor countries," said Eric LeCompte, the Executive Director of Jubilee USA Network. "Because the pandemic is impacting so many developing economies, the United States and other wealthy economies face supply shortages."

An investigation into more than 11 million private financial documents show hundreds of public officials in 90 nations using schemes to hide wealth offshore and avoid taxes. The International Consortium of Investigative Journalists released the Pandora Papers in partnership with the Washington Post and 600 journalists in 116 countries.

In a letter to finance ministers, 250 organizations call on wealthy countries to donate IMF emergency currency they don't need to poor countries. In August, the IMF created $650 billion in Special Drawing Rights (SDRs) to support global coronavirus response. More than $400 billion went to wealthy countries and $230 billion went to developing countries.