Question

Write a letter to the government expressing your concerns about the declining economy of the country in the COVID-19. Suggest ways to protect the current economic situation during COVID-19 and share strategies to use in rebuilding The economy in the post COVID - 19 period. (i need three suggestions and 2 strategies please and thank you!!)

Answer 1

To

The Government of XXX (Name of nation)

Respected Sir,

The COVID-19 pandemic, which has already infected almost 15% people in 148 countries, resulting in lots of deaths ,and has the potential to reach a large proportion of the global population.

The crisis has already transformed into an economic and labour market shock, impacting not only supply (production of goods and services) but also demand (consumption and investment).

Government should finance an immediate buffer to economies to cushion the negative impact and speed up the recovery. This includes immediate spending on:

1. Health care: extensive testing; treatment for all patients, regardless of whether they are insured or not; support to health-care workers; return of health-care retirees, while protecting high-risk groups; the enhanced provision of masks, ICUs and respirators, among others.
2. People: short-term employment schemes, reduced requirements to benefit from unemployment insurance, cash transfers to the self-employed and support to the most vulnerable.
3. Firms: charges and tax payment delays, temporary VAT reductions or deferrals, enhanced access to working capital through credit lines or state guarantees, special support packages for SMEs, especially those in services and tourism.

A better understanding of the transmission channels of the Covid-19 shock to the economy, therefore the interaction between economic decisions and the epidemic, and the policy trade-offs is needed.

Sincerely

Name

Sd/-