Fiscal Policies for a Transformed World

By Vitor Gaspar and Gita Gopinath عربي, 中文, Español, 日本語, Português, Русский  The ongoing COVID-19 pandemic has already prompted an unprecedented fiscal policy response of close to $11 trillion worldwide. But with confirmed cases and fatalities still rising fast, policymakers will have to keep the public health response their No. 1 priority while retaining supportive and flexible fiscal policies and preparing for transformational economic change. Policymakers should tackle the rising poverty and inequality, as well as the structural weaknesses exposed by the crisis to better prepare for future shocks. In the face of a sharp decline in global output, a massive … Continue reading Fiscal Policies for a Transformed World