Policy Steps to Address the Corona Crisis
Policy Papers, March 16, 2020
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- Published: March 16, 2020
- Series: Policy Papers
- DOI: https://doi.org/10.5089/9781513536927.007
Overview and Immediate Priorities
- Monitoring, containing and mitigating the effects of the corona virus are top priorities.
- Timely and decisive actions by health authorities, central banks, fiscal, regulatory and supervisory authorities can help contain the virus outbreak and offset the economic impact of the pandemic.
Central Bank Actions
- Central banks must support demand and confidence by:
- preventing a tightening of financial conditions,
- lowering borrowing costs for households and firms,
- ensuring market liquidity.
Fiscal Policy Recommendations
- Fiscal policy must step up to provide sizable support to the most affected people and firms, including in hard-to-reach informal sectors.
Regulatory and Supervisory Responses
- Regulatory and supervisory responses must aim to preserve financial stability and banking system soundness while sustaining economic activity.
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- Policy Paper