The economic consequences of the COVID-19 pandemic call for urgent policy responses to support households and firms alike, but how this support is designed will be critical in ensuring that it does not result in enduring global market distortions.

Support packages that are time-limited, targeted, cash-based, and consistent with longer-term objectives are the basis for ensuring a sustainable recovery.

Transparency of support packages is critical for public trust, but also once the crisis is over in order to foster accountability and enable governments to learn from what worked best.