Departmental Papers

Policy Advice to Asia in the COVID-19 Era

By Chang Yong Rhee, Katsiaryna Svirydzenka

March 5, 2021

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Format: Chicago

Chang Yong Rhee, and Katsiaryna Svirydzenka. Policy Advice to Asia in the COVID-19 Era, (USA: International Monetary Fund, 2021) accessed November 8, 2024

Disclaimer: The views expressed herein are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary

The Asia-Pacific region was the first to be hit by the COVID-19 pandemic; it put a strain on its people and economies, and policymaking became exceptionally difficult. This departmental paper contains the assessment of the key challenges facing Asia at this critical juncture and policy advice to the region both to address the current challenges and to build the foundations for a more sustainable and inclusive future. The paper focuses on (1) adjusting to the COVID-19 shock, (2) using unconventional policies when policy space is limited, (3) dealing with debt, and (4) helping the vulnerable and greening the recovery. The paper first presents the different ways countries are adjusting to the COVID-19 shock.

Subject: Central bank policy rate, COVID-19, Financial institutions, Financial services, Health, Monetary policy, Public debt, Sovereign bonds, Sovereign debt, Yield curve

Keywords: Asia, Asia and Pacific, Australia and New Zealand, Central bank policy rate, Containment measure, COVID-19, DP, DPPP, Global, Illiquid firm, Investment regression, Nonfinancial firm, Nonviable firm, Pacific Islands, Pandemic, Policy Advice, Potential GDP, Rising debt, Sample firm, South Asia, Sovereign bonds, Yield curve

Publication Details

  • Pages:

    105

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Departmental Paper No. 2021/004

  • Stock No:

    PATACEEA

  • ISBN:

    9781513566597

  • ISSN:

    2616-5333

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