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Supportive monetary and fiscal policies needed until pandemic is in check: IMF

Observing that the economies have been very negatively impacted by the coronavirus pandemic, Tobias Adrian, Financial Counsellor and Director of the Monetary and Capital Markets Department of the International Monetary Fund, said that in 2020 a vast majority of countries had sharp contractions in economic activities.

Source: Reuters

Countries around the world urgently need supportive monetary and fiscal policies until the deadly coronavirus pandemic is in check, a senior IMF official has said, as he advocated building buffers against fluctuations in external capital flows that could impact financial stability in nations like India.

Observing that the economies have been very negatively impacted by the coronavirus pandemic, Tobias Adrian, Financial Counsellor and Director of the Monetary and Capital Markets Department of the International Monetary Fund, said that in 2020 a vast majority of countries had sharp contractions in economic activities.

“Until the pandemic is in check, supportive monetary and fiscal policies remain urgently needed. That’s what we see in our membership around the world,” he told PTI in an interview.

“The good thing on the economic policy front is that there has been a synchronised support that was deployed around the world that has helped to mitigate the fallout from this pandemic and so the hope is that this is a bridge to recovery,” Adrian said.

He said the pandemic triggered a great deal of stress in financial markets early last year.

Article: Supportive monetary and fiscal policies needed until pandemic is in check: IMF

 

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