## Asset Purchases and Direct Financing: Guiding Principles for Emerging Markets and Developing Economies during COVID-19 and Beyond

_Departmental Papers, October 11, 2021_

## Source details

**Canonical URL:** [Asset Purchases and Direct Financing: Guiding Principles for Emerging Markets and Developing Economies during COVID-19 and Beyond](https://www.imf.org/en/publications/departmental-papers-policy-papers/issues/2021/10/08/asset-purchases-and-direct-financing-guiding-principles-for-emerging-markets-and-developing-464660)

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## Bibliographic details
- Authors: Tobias Adrian, Christopher J. Erceg, Simon T Gray, Ratna Sahay
- Published: October 11, 2021
- Series: Departmental Papers
- DOI: https://doi.org/10.5089/9781513594101.087

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### Summary
- Many central banks in emerging market and developing economies have used asset purchases to reduce financial stresses during the COVID crisis, and some are doing so to provide macroeconomic stimulus.
- The paper provides guiding principles related to asset purchases and direct financing for these economies during COVID-19 and beyond.

### Authors and publication date
- By Tobias Adrian, Christopher J. Erceg, Simon T Gray, Ratna Sahay
- October 11, 2021

### Major themes and subject coverage
- Asset and liability management
- Central bank balance sheet
- Central bank policy rate
- Central banks
- Financial services
- Financial statements
- Inflation
- Price stabilization
- Prices
- Public financial management (PFM)

### Keywords
- Asset purchases
- central bank asset
- Central bank balance sheet
- Central bank policy rate
- Direct Financing
- Emerging Markets
- Financial statements
- Fiscal Dominance
- Global
- government financing pressure
- IMF library
- Inflation
- overdraft finance
- Price stabilization
- purchase program

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_Source: https://www.imf.org/en/publications/departmental-papers-policy-papers/issues/2021/10/08/asset-purchases-and-direct-financing-guiding-principles-for-emerging-markets-and-developing-464660_