Sunday March 29, 2020

Coronavirus: how to limit the economic fallout

Fast-acting measures such as tax cuts, lower interest rates and targeted higher health spending are essential

27th February, 2020
Travellers in Changi International Airport in Singapore today. There have been 200,000-plus airline cancellations so far this year. Picture: Roslan Rahman/AFP via Getty

The Covid-19 epidemic is accelerating, and as the coronavirus approaches pandemic status, it is increasingly likely that the economic impact will be severe. Alongside intensifying public health responses, governments must step in to mitigate the virus’s impact on growth, employment and living standards.

There are three reasons to worry that Covid-19 will hit the global economy hard. First, regional and national travel restrictions will curb the flow of goods and services across borders...

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