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.

Well-designed state interventions today will shape better lives tomorrow. OECD Secretary-General Angel Gurría sets down a number of steps governments can follow in designing support in the short and medium term to help countries build back better.

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