Hon GRANT ROBERTSON: The global economy faces a period of significant disruption as countries around the world struggle to reopen up their economies. Shortly after Budget 2020 was announced, the IMF's managing director Kristalina Georgieva warned that the global economic impact from COVID-19 will be severe and that the IMF was set to revise down its forecasts for global growth next month. She said, "We strongly support the extraordinary fiscal actions many countries have already taken to boost [their] health systems and protect affected workers and firms." She added that "These bold efforts are not only in the interest of each country but of the global economy as a whole. Even more will be needed, especially on the fiscal front." In New Zealand, Budget 2020 got ahead of this by putting in place a plan of investments to protect workers and businesses while setting aside further money to rebuild the economy in the face of a one-in-100-year shock.