W. Raphael Lam is a Senior Economist in the Fiscal Affairs Department. His research currently focuses on fiscal issues related to inequality, intergovernmental relations, and fiscal rules. He previously worked on the China and Japan team in the Asia and Pacific Department, and had participated in the IMF’s lending program to Iceland during the global financial crisis. His previous research also covered fiscal and financial sector issues. He holds a Ph.D in Economics from University of California.
Governments must tailor their fiscal policy response to COVID-19, with the IMF recommending targeted support to vulnerable homes and focused support to viable firms.
Global fiscal support in response to the coronavirus pandemic is now around $9 trillion, according to the IMF - $1 trillion more than April estimates.
