Policy Action for a Healthy Global Economy
While quarantining and social distancing is the right prescription to combat COVID-19’s public health impact, the exact opposite is needed when it comes to securing the global economy.
Constant contact and close coordination are the best medicine to ensure that the economic pain inflicted by the virus is relatively short-lived.
Many governments have already taken significant steps, with major measures being announced on a daily basis—including yesterday’s bold, coordinated moves on monetary policy.
But clearly, even more needs to be done. As the virus spreads, increased coordinated action will be key to boosting confidence and providing stability to the global economy.
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