For recovery to be sustainable, policymakers will need to strengthen economic institutions that enable resilient, inclusive policies. Integrating capacity development with financial supportGovernments today face difficult policy decisions, but many lack the strong economic foundations and technical know-how to design and implement the necessary policies. Direct, ongoing conversations with policymakers to develop capacity to tackle these issues always goes hand-in-hand with IMF financial support. An even greater challenge lies ahead for policymakers in debt management, resulting from worsened fiscal positions and higher financing costs. As the world emerges from the Great Lockdown, policymakers and development partners should treat rebuilding stronger, more resilient institutions as a top priority.

Source: Manila Times June 12, 2020 16:07 UTC