Similarly, countries hit by a sudden and unexpected public health emergency—as coronavirus is proving to be—can see their economies slow and their budgets squeezed as they spend more to counter the impact of the virus. At the same time, they may experience a drop in revenue from falling economic activity. Countries could also face lower export revenues due to falling tourism receipts or a decline in commodity prices. A sudden halt in capital inflows could exacerbate the situation further. Together, this can result in an urgent balance-of-payments need to counter the mismatch between foreign exchange inflows and outflows.

Coronavirus Economic Planning: Hoping for the Best, Prepared for the Worst – IMF Blog