The pandemic has exposed systemic vulnerabilities of the world economy. A robust and resilient recovery will require strengthening public finances and improving debt sustainability, combating inequality and expanding social protection, and promoting climate action and environmental sustainability.
while a deeper crisis has been averted in the immediate term, central banks are facing an increasingly challenging operating environment, characterized by structurally weaker economies, greater uncertainty, and more fragile financial systems. This new post-crisis reality may force a rethink of the role of central banks and monetary policy.
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