Relief measures

Recovery Measures



Direct income support to vulnerable populations (e.g., cash transfers)

Temporary tax cuts and moratoriums

on debt repayments

Public loans and guarantees, and wage subsidies

Formalization of jobs, direct income support, skill support programs, and job transformation programs

Public loans and guarantees for capital investments, wage support, vocational training programs, and targeted subsidies

Business transformation programs (digitalization, sector transformation, etc.)

Partial/temporary nationalization programs to support employment and prevent large bankruptcies

National/local preference programs to support local industries/traders

Demand-side interventions

Government expenditures, interest-rate cuts, and widening lending facilities to banks

Macroeconomic stimulus packages, fiscal stimulus, public investment, and targeted sector interventions


Fiscal space, household targeting for middle-income countries

Financial market response to interest cuts, transmission to real economy, small fiscal multiplier, knowledge economy, and time-lag of the public interventions



Medium term