By: Isabel Ortiz, Obela 31-03-09: ABSTRACT: The article reviews announced fiscal stimulus packages in 43 countries. In March 2009, the total announced for stimulus plans is US$ 2.18 trillion, or 3.5% of world's GDP, mostly in higher income economies. The majority of these recovery packages contain measures to stimulate firms, consumers, and public investment in infrastructure. The article argues that a country approach is inadequate: a global crisis requires global responses.