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Covid leaving complex legacies that will need to be tackled: IMF official

The COVID-19 pandemic is leaving behind complex legacies that will need to be tackled, a top IMF official said on Wednesday, as he underlined the need for policies that must remain agile and respond flexibly as the situation may require. The pandemic has affected almost every country in the world and has left national economies and businesses counting the costs, as governments struggle with new lockdown measures to tackle the spread of the deadly virus. In the last twelve months, countries have announced USD 16 trillion in fiscal actions. Fiscal actions have enabled health systems and have provided emergency lifelines to households and firms. By doing so, fiscal policy has also mitigated the contraction in economic activity, Vitor Gaspar, Director of the Fiscal Affairs Department at the International Monetary Fund, said in the annual report of the annual Fiscal Monitor.

imf: COVID-19 pandemic leaving behind complex legacies that will need to be tackled: IMF official

Synopsis According to Johns Hopkins Coronavirus Resource Center, the coronavirus has infected 132,293,566 people and killed 2,871,642 across the world. Reuters The COVID-19 pandemic is leaving behind complex legacies that will need to be tackled, a top IMF official said on Wednesday, as he underlined the need for policies that must remain agile and respond flexibly as the situation may require. The pandemic has affected almost every country in the world and has left national economies and businesses counting the costs, as governments struggle with new lockdown measures to tackle the spread of the deadly virus. “In the last twelve months, countries have announced USD 16 trillion in fiscal actions. Fiscal actions have enabled health systems and have provided emergency lifelines to households and firms. By doing so, fiscal policy has also mitigated the contraction in economic activity,” Vitor Gaspar, Director of the Fiscal Affairs Department at the International Monetary Fund,

IMF renews support for higher taxes to fund recovery

IMF renews support for higher taxes to fund recovery Toggle share menu Advertisement IMF renews support for higher taxes to fund recovery The International Monetary Fund favors raising taxes on the wealthy to pay for pandemic programs, as well as a global minimum corporate tax AFP/Daniel SLIM 07 Apr 2021 11:39PM Share this content Bookmark WASHINGTON: Wealthy firms that have done well during the pandemic could pay more in taxes to finance recovery efforts, the International Monetary Fund (IMF) said on Wednesday (Apr 7), as it backs a push for governments to unify their corporate tax rates. The renewed support for the tax reforms comes as G20 finance ministers are meeting to discuss a minimum corporate tax that would undermine the use of tax havens that drain government coffers.

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