ADI

The COVID-19 pandemic has brought unexpected exogenous shocks that have resulted in global, regional, and national policy responses. To contain the spread of the virus and mitigate its impacts, different countries have adopted unprecedented policy measures based on their capacities. These measures are largely two-pronged. The first set – short term – focuses on immediate response strategies to flatten the disease curve through non-pharmaceutical prevention and containment measures – notably personal hygiene, social distancing, border closures, and lock-down of economic activity to various degrees. The second set takes the form of eased monetary and fiscal policies to help citizens, businesses, and public institutions to cope with the crisis. Indeed, most of the policy interventions have focused on the short term.