*  *  *  The OED has done all of us a great service by carrying out evaluations of Bank Country Programmes in a systematic manner using a common framework. The findings of these studies should be of value not only to the Bank’s own operational staff but also to the economic managers of the client countries.
It is beyond doubt that the extended monetary policy measures since mid-March have been needed to support monetary transmission and help the economy establish a foothold in the lockdown. This has contributed to avoid worst case scenarios and deflationary threats. The monetary policy responses to the corona crisis have clearly been effective.