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Cover IMF Working Papers
A TIP Against the COVID-19 Pandemic
Reda Cherif and Fuad Hasanov
A universal testing and isolation policy is the most viable way to vanquish a pandemic. Its implementation requires: (i) an epidemiological rather than clinical approach to testing, sacrificing accuracy for scalability, convenience and speed; and (ii) state intervention to ramp up production, similar to True Industrial Policy (TIP), on a global level to achieve a scale and speed the market alone would fail to provide. We sketch a strategy to tackle market failures and implement smart testing, especially in densely populated areas. The estimated cost of testing is dwarfed by its return, mitigating the economic fallout of the pandemic.
Keywords:
WP; production capacity; value chain; false positive; private sector; federal government; pharma company; financial support; State intervention; test kit; testing rate; Early warning systems; Public expenditure review; Global; Industrial policy; growth; manufacturing; epidemic; COVID-19; coronavirus; containment policy; SIR model
Cover Policy Papers
The Fund's Capacity Development Strategy - Better Policies Through Stronger Institutions - Background Paper
International Monetary Fund
This supplement provides background information on various aspects of capacity development (CD) for the main Board paper, The Fund’s Capacity Development Strategy—Better Policies through Stronger Institutions. It is divided into nine notes or sections, each focused on a different topic covered in the main paper. Section A explores the importance of institutions for growth, and the role the Fund can play in building institutions. Section B presents stylized facts about how the landscape for CD has changed since the late 1990s. Section C discusses the difficulties of analyzing CD data because of measurement issues. Section D provides a longer-term perspective on how Fund CD has responded to member needs. Section E contains information on previous efforts to prioritize CD, assesses Regional Strategy Notes (RSNs) and country pages, and suggests ways to strengthen RSNs, including by using the Fund’s surveillance products. Section F compares the technical assistance (TA) funding model proposed in the 2011
Keywords:
PP; funding model; Fund TA; donor financing; TA department; evaluation instrument; strategy paper; TA delivery; TA priority; TA mission; TA-training synergy; resourced TA demand; evaluation program; TA needs; Personal income; Early warning systems; Employment; Information systems and platforms; Global; Sub-Saharan Africa; Middle East and Central Asia; Africa; Middle East