Financing of fiscal response to COVID-19: a pragmatic alternative

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As governments around the world, including the Indian government, mount a fiscal response to the Covid-19 crisis, the question of how to finance it has risen to prominence. We argue that the option of the central bank monetizing the additional government debt and then writing it off offers a pragmatic way out.

Original languageEnglish
Pages (from-to)S149-S160
Number of pages12
JournalIndian Economic Review
Publication statusPublished - Nov 2020


  • Deficit monetization
  • Monetary policy
  • Debt management
  • Covid-19 fiscal response

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