In the face of unprecedented uncertainty and the severe economic impact triggered by COVID-19, the Fund continues to adapt its lending. At the same time, it aims to ensure realistic targets, uphold the credibility of programs, and foster national ownership. […]
I have been saying for a while that this is a “crisis like no other.” It is:
More complex, with interlinked shocks to our health and our economies that have brought our way of life to an almost complete stop;
More uncertain, as we are learning only gradually how to treat the novel virus, make containment most effective, and restart our economies; and
Truly global. Pandemics don’t respect borders, neither do the economic shocks they cause.