This policy brief analyses the impact of COVID-19 on the financial sector and puts forward policy recommendations, focusing on how the international community can support countries most in need, in four areas: i) launching a large-scale, coordinated stimulus package that includes a significant increase in access to concessional financing; ii) strengthening the global financial safety net; iii) initiating a debt moratorium; and iv) in the medium-term, building a more sustainable future. These measures should complement other national and international actions to address the health, social and economic impact of the crisis.

4 p.