TY - BOOK ID - 133922034 TI - Flattening the Insolvency Curve: Promoting Corporate Restructuring in Asia and the Pacific in the Post-C19 Recovery AU - Bauer, W. AU - Craig, R. AU - Garrido, Jose. AU - Kang, Kenneth. AU - Kashiwase, Kenichiro. AU - Kim, Sung Jin. AU - Liu, Yan. PY - 2021 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Macroeconomics KW - Economics: General KW - International Economics KW - Macroeconomics: Consumption, Saving, Production, Employment, and Investment: General (includes Measurement and Data) KW - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General KW - Financial Institutions and Services: General KW - Corporate Finance and Governance: General KW - Fiscal Policies and Behavior of Economic Agents: General KW - Public Economics: Miscellaneous Issues: General KW - Economic & financial crises & disasters KW - Economics of specific sectors KW - Financial crises KW - Economic sectors KW - Currency crises KW - Informal sector KW - Economics UR - https://www.unicat.be/uniCat?func=search&query=sysid:133922034 AB - The Coronavirus disease (COVID-19) triggered a sharp contraction of economic activity across Asia and the Pacific. Policymakers adopted a “whatever it takes” approach in their initial response, relying mainly on liquidity support to help firms survive the shock. This paper discusses how the initial policy response should evolve as the region’s economies stabilize and enter the recovery phase. Many firms will need to repair their balance sheets and adjust their business models to the post-pandemic realities. The priority will be to support this process by facilitating the efficient restructuring of viable firms while allowing nonviable firms to exit. This requires action on three complementary fronts: reinforcing private debt resolution frameworks to flatten the insolvency curve, ensuring that adequate financing is available to support corporate restructuring, and facilitating access to equity to speed up the reallocation of jobs and capital into growth sectors. ER -