zh-cn	新冠肺炎疫情爆发后，人类已经付出了沉重的生命代价，也已被宣布为全球公共卫生突发事件。
en-us	The novel coronavirus (COVID-19) outbreak has already exacted a high cost in human life and has been recognized for what it is—a global health emergency. 

zh-cn	随着病毒在全球扩散，现在的问题是如何保护生命，遏制疫情对经济的不利影响。 
en-us	As the virus spreads around the globe, the question now is whether lives can be protected and economic harm can be contained. 

zh-cn	以史为鉴，当全球经济面临共同威胁时，采取快速、协调而果断的行动，结果会大不相同。
en-us	We know from history that when the global economy faces a common threat, quick, coordinated, and decisive action makes all the difference. 

zh-cn	这种情况已经开始发生。
en-us	That is beginning to happen. 

zh-cn	一些国家出台刺激计划，很多国家下调利率，世界银行集团和国际货币基金组织推出大规模资金援助方案，帮助各国克服卫生危机，限制疫情对经济的破坏。 
en-us	Several countries have announced stimulus programs, many have cut interest rates, and both the World Bank Group and the International Monetary Fund have unveiled massive financial-support packages to help countries overcome the health crisis and limit the economic damage. 

zh-cn	在未来几周，所有国家、甚至那些尚未出现新冠肺炎患者的国家，都需要采取具体的政策措施，保护人民，抑制疫情对经济的伤害。 
en-us	In the coming weeks, all countries—even those without a single coronavirus patient—will need to take concrete policy steps to protect their people and limit harm to their economies. 

zh-cn	但是，下一步是关键：在未来几周，所有国家、甚至那些尚未出现新冠肺炎患者的国家，都需要采取具体的政策措施，保护人民，抑制疫情对经济的伤害。 
en-us	But what comes next will be crucial: in the coming weeks, all countries—even those without a single coronavirus patient—will need to take concrete policy steps to protect their people and limit harm to their economies. 

zh-cn	没人能够对疫情的全部经济影响做出可靠的预测。
en-us	No one can reliably predict the full economic impact of the outbreak. 

zh-cn	这在很大程度上取决于未知的因素——疫情会持续多久，影响多少个国家，在多大程度上动员和保持协调一致而快速的政策应对。
en-us	Too much depends on what is unknowable—how long the outbreak lasts, how many countries it afflicts, and the extent to which a coordinated, concerted, fast-track policy response is mobilized and sustained. 

zh-cn	但我们确实知道的是，当疫情来袭时，世界经济正处于疲软状态，全球增长刚刚从2009年金融危机以来的最低点开始回升。 
en-us	But what we do know is that the outbreak arrived at a weak point for the world economy, when global growth was beginning to pick up from its lowest rate since the 2009 financial crisis. 

zh-cn	对于发展中经济体来说，其影响令人不安：信贷条件收紧，经济增长疲软，政府资源转向防控疫情减少了可用于关键发展重点的资金。
en-us	That has troubling implications for developing economies: Tighter credit conditions, weaker growth, and the diversion of government resources to fight the outbreak would reduce funds available for key development priorities. 

zh-cn	经济衰退也会导致消除极端贫困的斗争出现倒退。
en-us	An economic slump would also set back the fight against extreme poverty. 

zh-cn	因此，世界各地的决策者必须认识到，经济影响会从一个国家传导到另一个国家，必须快速行动起来阻止其扩散。 
en-us	It is imperative, therefore, that policymakers everywhere recognize how economic harm can be transmitted from one country to another—and to act quickly to prevent its spread. 

zh-cn	这种传导可能通过多个渠道发生。
en-us	That transmission is likely to occur through several channels. 

zh-cn	首先是贸易：占全球贸易近一半的全球价值链正在受到工厂关闭和延迟复工的影响。
en-us	The first is trade: global value chains, which account for nearly half of global trade, are being disrupted by factory shutdowns and delayed resumption of operations. 

zh-cn	其次是外资流动，外资可能撤离受疫情影响的国家。
en-us	The second is foreign financial flows, which could be shifted away from coronavirus-affected countries. 

zh-cn	第三是国内资本，包括人力资本和资金，目前正因工厂闲置和人员居家隔离而开工不足。
en-us	The third is domestic capital—human as well as financial—which is becoming underutilized as factories are idled and people stay at home. 

zh-cn	第四是交通运输和旅游业，这是很多发展中国家的一个主要收入来源，却因需求下降和旅行限制扩大而出现收缩。
en-us	The fourth is transport and tourism, a major revenue stream for many developing countries that is shrinking with declining demand and expanding travel restrictions. 

zh-cn	最后，大宗商品价格暴跌将会伤害依赖大宗商品获得急需的收入的发展中国家。 
en-us	Finally, sharp drops in commodity prices will harm developing countries that rely on them for much-needed revenue. 

zh-cn	政府应当避免采取保护主义政策，这种政策会加剧全球价值链的中断，放大已经存在的高度不确定性。
en-us	Governments should avoid protectionist policies, which would exacerbate disruptions to global value chains and amplify already elevated levels of uncertainty. 

zh-cn	更重要的是，政府应当避免限制食品医药等必需品出口，而是要共同努力支持增加产量，并确保资源流向最需要的地方。 
en-us	Even more important, governments should avoid restricting exports of necessary food and medical products and instead work together to support increased production and ensure that resources flow to where they are most needed. 

zh-cn	应对这些挑战需要全球合作。
en-us	Tackling these challenges will require global cooperation. 

zh-cn	政府应当避免采取保护主义政策，这种政策会加剧全球价值链的中断，放大已经存在的高度不确定性。
en-us	Governments should avoid protectionist policies, which would exacerbate disruptions to global value chains and amplify already elevated levels of uncertainty. 

zh-cn	更重要的是，政府应当避免限制食品医药等必需品出口，而是要共同努力支持增加产量，并确保资源流向最需要的地方。
en-us	Even more important, governments should avoid restricting exports of necessary food and medical products and instead work together to support increased production and ensure that resources flow to where they are most needed. 

zh-cn	从中期来看，随着经济条件改善，对决策者来说不要只关心自己，而是要鼓励企业增加库存和供应渠道多元化，以求更好地管控风险。 
en-us	In the medium term, as economic conditions improve, the lesson for policymakers is not to look inward, but to encourage businesses to hold a higher level of inventories and diversify suppliers to best manage risk. 

zh-cn	除了合作以外，国际援助也是必要的，特别是对于缺少遏制流行病的必要卫生基础设施的撒哈拉以南非洲国家。
en-us	Beyond cooperation, international assistance will be necessary, in particular for countries in sub-Saharan Africa , which lack the health-related infrastructure necessary to contain the epidemic. 

zh-cn	而且所有国家都应当增强关于疫情扩散的信息透明度，因为恐慌和错误信息会加大对经济的影响。 
en-us	And all countries should work to increase transparency in information related to the spread of the outbreak—fear and misinformation can magnify its economic impact. 

zh-cn	发展中国家也应当快速采取以下措施： 
en-us	Developing countries, for their part, should move quickly to: 

zh-cn	增加卫生支出：在很多发展中国家，公共卫生体系仍很薄弱，使得人口容易受到疫情快速扩散的影响。
en-us	Boost spending on health: In many developing countries, public health systems remain weak, making their populations vulnerable to the rapid spread of the outbreak. 

zh-cn	政府应当加大投入强化公共卫生体系，使其有能力更快地治疗患者和阻止疫情蔓延。 
en-us	Governments should boost investments that strengthen these systems to enable faster treatment and containment. 

zh-cn	加强社会安全网：面向最弱势群体的现金转移支付和免费医疗服务有助于遏制疫情传播并减少财务损害。 
en-us	Strengthen the safety net: Cash transfers and free medical services for the most vulnerable people would help contain the outbreak and also limit its financial harm. 

zh-cn	支持私营部门：鉴于各类企业都可能受到影响，短期信贷、税收优惠或补贴都会对他们有益。 
en-us	Support the private sector: Since businesses of all kinds are likely to take a hit, they would benefit from short-term credit, tax breaks, or subsidies. 

zh-cn	对抗金融市场波动：在发展中国家、特别是那些对风险规避行为敏感的国家，央行应当随时准备对金融市场的无序波动做出反应，可能通过降息和注入流动性来恢复金融稳定和促进增长。 
en-us	Counter financial-market disruptions: Central banks in developing countries—particularly those that are sensitive to bouts of risk aversion—should stand ready to react to disorderly financial market movements. They may need to lower interest rates and inject liquidity to restore financial stability and boost growth. 

zh-cn	此刻也是对决策者的考验：他们必须迎难而上，迅速、果断、同心协力地去迎接挑战。 
en-us	These are testing times for policymakers: they must rise to the occasion by acting quickly, decisively, and in collaboration. 

zh-cn	世界银行集团在帮助发展中国家在这些领域采取必要措施方面发挥着关键作用。
en-us	The World Bank Group is playing a key role in helping developing countries take the necessary steps in these areas. 

zh-cn	我们的120亿美元快速道援助方案能够立即支持发展中国家强化卫生体系和把对人民及经济的不利影响降到最低的努力。
en-us	Our initial fast-track package of $12 billion will immediately support the efforts of developing countries to strengthen health systems and minimize the harm to people and the economy. 

zh-cn	根据疫情的持续时间和严重程度，我们将准备提供第二阶段的援助，把关注点更多地放在减轻经济和社会影响上。 
en-us	Depending on the duration and the severity of the epidemic, we will be ready to provide a second phase of support with a greater focus on economic and social impacts. 

zh-cn	援助方案将充分调动包括世行、国际开发协会和国际金融公司在内的各机构的能力，尽快控制疫情带来的不利影响。
en-us	The package deploys our full array of capabilities—from the Bank, the International Development Association (IDA), and the International Finance Corporation (IFC), to limit the damage as quickly as possible. 

zh-cn	例如，国际金融公司目前正与商业银行合作为企业扩大贸易融资和营运资本，并向其公司客户提供支持，重点放在医疗设备和药品等战略性行业，以维持供应链和限制下行风险。 
en-us	IFC, for instance, is working with commercial banks to expand trade finance and working capital for businesses. It will also directly support its corporate clients—with an emphasis on strategic sectors such as medical equipment and pharmaceuticals—to sustain supply chains and limit downside risks. 

zh-cn	尽管金融市场出现动荡，决策者仍需要保持头脑冷静。
en-us	Despite the turbulence in financial markets, policymakers need to remain level-headed. 

zh-cn	决策者应利用包括货币、财政、贸易和投资政策在内的全部政策工具来提振信心。
en-us	They should employ their full arsenal of policy tools, including monetary, fiscal, trade and investment policies, to improve confidence. 

zh-cn	全球金融危机期间的前所未有的同步和协调的政策应对，对于遏制危机起了至关重要的作用。
en-us	The unprecedented synchronized and coordinated policy response during the global financial crisis was critical to contain it. 

zh-cn	同样，此刻也是对决策者的考验：他们必须迎难而上，迅速、果断、同心协力地去迎接挑战。
en-us	Once again, these are testing times for policymakers: they must rise to the occasion by acting quickly, decisively, and in collaboration.