By Tobias Adrian, Financial Counsellor and Director of the IMF's Monetary and Capital Markets Department
This blog is part of a special series on the response to the coronavirus.
The global spread of the coronavirus is a human tragedy unfolding across the world. Quantifying the economic impact is complex, giving rise to significant uncertainty about the economic outlook and the associated downside risks. Such an abrupt rise in uncertainty can put both economic growth and financial stability at risk. In addition to targeted economic policies and fiscal measures, the right monetary and financial stability