As we prepare for the reopening of the economy, we should remain vigilant because the risk of COVID-19 remains high. We should maintain disciplined approach to policy coordination and decision-making. The crisis has exposed the vulnerabilities and gaps in existing processes and systems that we need to swiftly deal with to cover lost momentum because of COVID-19.
However, our optimism is also tempered by a sense of realism that there are still much work to be done. We have a good head start with the economic and regulatory buffers we built over the years. But these can be easily eroded given the huge resource requirement of the crisis response measures.