Inflation monetary policy
AS countries around the world scramble to enact various forms of expansionary fiscal and monetary policies to alleviate the shock from Covid-19, a key concern arises among economists: can countries afford to pay for these policies?
Among the South-East Asian countries, Singapore is the only one whose fiscal stimulus drew on reserves and not on additional borrowing. Other countries weren’t so fortunate to operate with such a large fiscal policy arsenal, which affects their ability to stimulate the economy.
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