Here’s how governments can drive a sustainable recovery from COVID-19

SourceWorld Economic Forum
SectorEconomy
CountryMiddle east

The IMF's January 2021 Fiscal Monitor Update shows how governments have been supporting people and organizations during COVID-19. It also outlines what more governments can do to achieve a greener, fairer, and more durable recovery. Support from governments has varied across countries depending on their economic situation. Governments need to meet vaccination goals and be flexible as people's financial needs change. The COVID-19 pandemic is accelerating in many countries and uncertainty is unusually high. Decisive government actions are necessary to ensure swift and extensive vaccine rollouts, protect the most vulnerable households and otherwise viable firms, and foster a durable and inclusive recovery. Most countries will need to do more with less, considering the increasingly tight budget constraints. Many countries have continued to support people and firms amid the resurgence of infections and renewed restrictions, while calibrating their responses to the evolving economic situation. The January 2021 Fiscal Monitor Update provides an overview of such efforts and outlines what more governments can do to achieve a greener, fairer, and more durable recovery. Government support has helped people and firms The global fiscal support reached nearly $14 trillion as of end-December 2020, up by about $2.2 trillion since October 2020.

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