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From the Executive Summary: [1] Latin America needs to implement an effective policy response on the public health front and on income transfers This will require a massive provision of liquidity [2] The COVID-19 [coronavirus disease 2019] pandemic will require, on average, the equivalent to 10% of the region\'s GDP [gross domestic product], including spending measures such as income transfers, credit provision, government guarantees, and tax reductions [3] Governments in the region should share the burden of the effort with the private sector and strive to be austere with respect to non-essential expenditures [4 ]Subject to specific conditionality, the IMF [International Monetary Fund] should make available to the region resources in the range of USD 200-300 billion to finance a portion of the required response COVID-19 (Disease)
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