ABSTRACT
The French government announced a fiscal plan of EUR 100 billion, exceeding 4% of France's gross domestic product, to deal with the pandemic, including liquidity support. This means that strengthening international cooperation to fight the pandemic and stabilizing and restoring the economy is the inevitable choice to deal with this pandemic. On March 2, the President of the International Monetary Fund and the President of the World Bank Group issued a joint statement expressing their readiness to help member countries deal with the life, health, and economic challenges brought about by COVID-19. In the face of the once-in-a-century global pandemic and the global livelihood crisis, in order to support the implementation of the above-mentioned bailout and assistance package, fiscal and monetary policies must set clear anti-crisis targets and strengthen countercyclical adjustments and policy implementation during extraordinary periods.
