The global corona crisis – A summary of key policy mappings and databases
Originally published by Global Policy Forum Europe.
In addition to the health aspects of the virus, the global coronavirus crisis also has financial, socio-economic and developmental consequences. For this reason, a large number of policy measures have been announced by governments and international organizations, on the one hand to contain the pandemic, on the other to mitigate the economic consequences.
These measures contain for example fiscal stimulus and aid packages of various shapes and sizes, intended to cushion the serious economic and social consequences of the coronavirus outbreak worldwide. The main target groups of planned loans and cash injections are the healthcare system, as well as larger banks and companies. However, some strategies are also aimed at small and medium-sized companies as well as groups of individuals, their savings, private pensions and other private assets.
The current situation is particularly problematic for many developing countries. In many countries, health systems are weak, governments have little financial flexibility and the majority of populations are not protected by social safety nets, making sickness, unemployment and loss of wages in these circumstances even more problematic than in Europe or the USA. International organizations such as the World Health Organization and the World Bank are therefore beginning to tailor measures specifically for this context.
In order to gain an overview of the various national and international measures, various actors have created overviews, each with a different focus. Global Policy Forum continuously analyzes relevant policy measures. The following databases are particularly useful:
Reuters’ overview contains a summary of the most important economic strategies against the corona crisis. Individual countries worldwide and the euro zone are discussed.
The policy tracker of the International Monetary Fund, as of the end of March, brings together almost all the important economic measures taken by governments to face the economic and social consequences of the corona pandemic. The list includes 186 countries.
The OECD overview focuses on government tax measures to combat the financial impact of Covid-19.
Offers an overview of economic and political measures against the Covid-19 outbreak and will be updated frequently. The responses of the EU and its member states are covered in detail as well as those of some economically important countries (UK, USA, China, Hong Kong and Japan).
The tracker addresses interventions by central banks, financial authorities and international institutions focused on financial stability. It also collects relevant suggestions from people and actors outside of governments. For each entry, a summary of the information is provided and links to the most important press articles are shared.