Responding to COVID-19: Expenditure Policies to Protect Livelihoods

Tuesday, July 14, 2020 at 14:00-15:30 Vienna time (CEST) 

Introduction
Holger Flörkemeier, JVI Deputy Director

Presenters
Baoping Shang and Delphine Prady (all IMF, Expenditure Policy Division, Fiscal Affairs Department)

The COVID-19 pandemic severely affected countries across the globe, with oil exporting countries from the CESEE and CCA region simultaneously hit by the collapse of oil prices. Trade disruptions and containment measures affected economic sectors asymmetrically. The IMF Fiscal Monitor in its April 2020 issue recommended targeted fiscal measures for affected workers and businesses during the emergency response, as well as broad-based stimulus in line with countries’ financing abilities for recovery. The majority of countries responded with a strong fiscal stimulus, estimated (in June) at nearly $11 trillion globally, of which roughly half in foregone revenue and spending measures. However, what do we know about the effectiveness of expenditure policies in mitigating the economic and social impact of the pandemic? What expenditure measures are recommended in order to provide liquidity support for businesses and preserve employment? Should measures supporting households be targeted or rather universal? And how can the informal sector be reached effectively?

Drawing on the recent IMF special series on fiscal policies to respond to the COVID-19 challenges, this webinar discusses the general principles and design of policy responses, including temporary universal transfers. Challenges and good practices, in particular with regard to reaching the informal sector, will be discussed.

The webinar is the fourth of a series focusing on the recent IMF special series on fiscal policies to respond to the COVID-19 challenges.

Baoping Shang will present the IMF Fiscal Affairs Department’s special note on “Expenditure Policies in support of firms and households” (English / Russian

He will be joined by Delphine Prady who will present the notes “Managing the impact on households: Assessing Universal Transfers” (English / Russian) and “Reaching Households in Emerging and Developing Economies: Citizen ID, Socioeconomic Data, and Digital Delivery” (English / Russian)

The webinar will be opened by Holger Flörkemeier, JVI Deputy Director.

Moderation will be provided by Barbara Dutzler and Tatiana Evdokimova (both JVI)

The webinar will be held in English.

In the coming weeks and months, the JVI will organize further topical webinars in the field of financial stability, fiscal policy and macroeconomics.

Besides, we will conduct a number of our courses in a virtual format. The latest version of the JVI course schedule can be found here.

We look forward to engaging with you!

Thomas Richardson, Director, JVI

Presentation


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