From the Executive Summary: " Latin America needs to implement an effective policy response on the public health front and on income transfers. This will require a massive provision of liquidity.  The COVID-19 [coronavirus disease 2019] pandemic will require, on average, the equivalent to 10% of the region's GDP [gross domestic product], including spending measures such as income transfers, credit provision, government guarantees, and tax reductions.  Governments in the region should share the burden of the effort with the private sector and strive to be austere with respect to non-essential expenditures. [4 ] Subject to specific conditionality, the IMF [International Monetary Fund] should make available to the region resources in the range of USD 200-300 billion to finance a portion of the required response."
Latin American Committee on Macroeconomic and Financial Issues Statement No. 43
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