Exit strategies

*The key challenges involve mapping a course between unwinding public interventions too early and too late, and maintaining market confidence in the sustainability of public finances. Clear communication of exit strategies will be critical.
*Central banks will eventually need to unwind their extraordinary liquidity and credit support, but may need to start tightening their monetary stance well before balance sheets are fully restored.
*Fiscal support should be maintained while the recovery is still fragile. Eventual adjustment will need to be large, particularly for advanced economies where public debts are rising rapidly, underpinned by a major reform of entitlements.