Fiscal Monitor, April 2021: A Fair Shot
Abstract
This report overviews countries fiscal actions in response to COVID-19 and discusses how governments policies should adapt to get ahead of the pandemic and set the stage for a greener, fairer, and more durable recovery. Global vaccination should be scaled up as it can save lives and will eventually pay for itself with stronger employment and economic activity. Until the pandemic is brought under control globally, fiscal policies must remain flexible and supportive, while keeping debt at a manageable level over the long term. Governments also need to adopt comprehensive policies, embedded in medium-term frameworks, to tackle inequalities—especially in access to basic public services—that were exacerbated by the COVID-19 pandemic and may cause income gaps to persist. Investing in education, healthcare and early childhood development and strengthening social safety nets financed through improved tax capacity and higher progressivity, can strengthen lifetime opportunities, improve trust, and contribute to more social cohesion.
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For 2020, IMF estimated learning losses from mandated school closures at 20-25% of school year in advanced economies and twice that in emerging and developing economies.
“For 2020 alone, the IMF estimated learning losses from mandated school closures at 20–25% of the school year in advanced economies and twice that in emerging market and developing economies”
From The Lancet Commission on lessons for the future from the COVID-19 pandemic (2022) · cites this paper as [318]
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Cited by 4
- Authors
- Fund, I. M.
- Corresponding author
- International Monetary Fund
- Venue
- International Monetary Fund eBooks
- Publisher
- International Monetary Fund
- Published
- 2021-04
- OpenAlex
- W4320161263
- Cited by
- 4
- References
- 0
- Citations by year
- 2025: 3 · 2024: 1
- FWCI
- 0.40
- Type
- book
- Language
- en
- Open access
- closed
- Locations
- International Monetary Fund eBooks (publishedVersion)
- Topics
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Fiscal Policies and Political Economy
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Economic and Fiscal Studies
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › COVID-19 Pandemic Impacts
- Keywords
- COVID-19 pandemic, fiscal policy, government spending, public debt, economic recovery, vaccination, inequality, social safety nets, education investment, health investment, early childhood development, progressive taxation, tax capacity, medium-term fiscal framework, access to public services
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