Fiscal Monitor - April 2020
Fiscal Monitor, April 2020
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- Fiscal Monitor - April 2020
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Bibliographic details
- Published: April 6, 2020
Chapter 1: Policies to Support People During the COVID-19 Pandemic
- "Fiscal policies are at the forefront of responding to the COVID-19 pandemic."
- Fiscal measures can "save lives, protect the most-affected people and firms from the economic impact of the pandemic, and prevent the health crisis from turning into a deep long-lasting slump."
- "A key priority is to fully accommodate spending on health and emergency services."
- Global coordination priorities: "for a universally low-cost vaccine and to support countries with limited health capacity."
- Immediate fiscal stance: "Large, temporary and targeted support is urgently needed for affected workers and firms until the emergency abates."
- As shutdowns end: "broad-based, coordinated fiscal stimulus—where financing conditions permit—will become more effective in fostering the recovery."
Chapter 2: IDEAS to Respond to Weaker Growth
- "Fiscal policies are at the forefront of facilitating an economic recovery from the COVID-19 pandemic once the Great Lockdown ends."
- Policymakers can achieve this objective with IDEAS:
- Invest for the future — "in health systems, infrastructure, low carbon technologies, education, and research."
- Adopt well-planned Discretionary policies — "that can be deployed quickly."
- Enhance Automatic Stabilizers — "which are built-in budgetary tax and spending measures that automatically stabilize incomes and consumption."
- Social protection focus: "Improving unemployment benefit systems and social safety nets can protect household incomes from adverse shocks and strengthen resilience against future epidemics."
- Recommendation on timing: deploy discretionary stimulus when the Great Lockdown ends to facilitate recovery.
Chapter 3: State-Owned Enterprises — The Other Government
- "Over the past decade, state-owned enterprises (SOEs) have doubled in importance among the world’s largest corporations."
- Role and trade-offs:
- SOEs "often deliver basic services such as water, electricity, and loans for families and small businesses."
- "At their best, they can help promote higher economic growth and achieve development goals."
- "However, many are a burden to taxpayers and the economy."
- Policy guidance to get the most out of SOEs:
- Ensure "the firm’s managers have the right incentives and there is effective oversight."
- Require "a high degree of transparency of their activities."
Data, Media, and Notable Items
- "CHART OF THE WEEK Tracking the $9 Trillion Global Fiscal Support to Fight COVID-19"
- Available materials listed on the page: "Full Text", "Statistical Appendix", "Data", "Executive Summary", "Online Annex", "Fiscal Monitor Database of Country Fiscal Measures in Response to the COVID-19 Pandemic", "Podcast", "Videos", and "Blog" entries summarizing fiscal policy responses.
Fiscal Monitor - April 2020
Content in this bundle
- Fiscal Monitor Database Apr. 2020 — Chapter 1
- fiscalmonitordatabase-april2020-chapter-2
- fiscalmonitordatabase-april2020
- Chapter 1
- Chapter 1 Executive Summary. IMF Fiscal Monitor, April 2020
- Chapter 2
- Chapter 3
- Chapter 3 Executive Summary. IMF Fiscal Monitor, April 2020
- Executive Summary
- Methodological and Statistical Appendix, IMF Fiscal Monitor, April 2020
- onlineannex11 - CHAPTER 1
- Onlineannex21
- Chapter 3 Online Annexes 3.1 through 3.7. IMF Fiscal Monitor, April 2020
- Fiscal Monitor: Policies to Support People During the COVID-19 Pandemic (April 2020)
References
- Fiscal Monitor Database of Country Fiscal Measures in Response to the COVID-19 Pandemic
- Fiscal policies to contain the damage from COVID-19
- Fiscal policies for the recovery from COVID-19
- State-owned enterprises in the time of COVID-19
- CHART OF THE WEEK Tracking the $9 Trillion Global Fiscal Support to Fight COVID-19
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