The International Monetary Fund (IMF) said it welcomed the decisive steps by governments around the world to limit the human and economic impact of COVID-19.
In a statement on Wednesday, IMF said since the outbreak of the Covid-19, many countries have taken extraordinary monetary and fiscal policy measures to tackle the impact of the pandemic.
“These measures are most welcome and essential, and more will be needed. We are launching today a policy tracker to help our member countries be more aware of the experiences of others in combating the pandemic, and in adapting various policies and practices to their unique circumstances and needs. Sharing knowledge about COVID-19 enables us all to tackle the crisis more effectively,” said IMF Managing Director Kristalina Georgieva.
She said “This policy tracker summarizes the key economic responses as of March 24, 2020. The tracker is not meant for comparison across members, as policy responses vary depending on the nature of the shock and country-specific circumstances. The tracker focuses on discretionary actions that supplement existing social safety nets and insurance mechanisms”.
Continuing the IMF boss said “The initial policy tracker includes the G20 and European Institutions. More countries will be added soon, and information will be updated on a regular basis”.