Statement from the OECD Secretary-General
8 June 2020 - The COVID-19 health crisis is unfolding into an unprecedented global economic crisis. The sudden reduction in economic activity has put severe stress on businesses and on employment, requiring swift and strong government actions. Measures are needed in the short term to halt the economic slide, to keep markets and the economy functioning, and to safeguard the physical and economic health and wellbeing of individuals around the world. We also need to ensure that the recovery delivers an economy that is more resilient, inclusive and sustainable, and in particular that is climate friendly. Heightening the challenge, many governments have to try to accomplish these goals while at the same time experiencing a ratcheting up of their own debt ratios, which in some cases were already dangerously high.