Sovereigns Taking Action to Mitigate Impact of Coronavirus
The global Coronavirus Disease (COVID-19) outbreak and associated public health response will impose a significant cost in terms of lost economic output across the major economies. Nonetheless, governments and central banks are implementing targeted, timely and temporary measures, generally believed to be appropriate at such times, to support affected businesses and households. These measures will be important to sustain the functioning of these economies under the stress of the public health measures. This commentary summarizes the policy responses of some of the largest advanced economies thus far. Additional measures will likely be forthcoming over time, as governments come to terms with the various impacts of containment.
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