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Unprecedented Fiscal Response to an Unprecedented Crisis

October 14, 2020

IMF's Vitor Gaspar says the priority now should be to avoid premature withdrawal of fiscal support. (IMF photo)

Seven months after the World Health Organization declared a global pandemic, more than 1 million people have died of the disease and trillions of dollars have been spent in an effort to contain its devastating impact on economies across the globe. The latest Fiscal Monitor looks at what governments can do in the different phases of the pandemic to reduce the impact of the recession. Vitor Gaspar heads the semiannual publication. In this podcast, he says the massive fiscal support provided since the start of the crisis has been effective at saving lives and livelihoods and needs to continue.

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Vitor Gaspar is Director of the IMF Fiscal Affairs Department.