The World Health Organization (WHO) classifies Coronavirus disease (COVID-19) as an infectious disease caused by a newly discovered coronavirus.
The COVID-19 virus spreads primarily through droplets of saliva or discharge from the nose when an infected person coughs or sneezes, so it’s important that you also practice respiratory etiquette (for example, by coughing into a flexed elbow).
As of this writing, there are no specific vaccines or treatments for COVID-19. However, there are many ongoing clinical trials evaluating potential treatments.
On the economic front, a parallel battle is being waged. Affected countries, totalling about 210 now, must mitigate the worst consequences of the Coronavirus pandemic and build a bridge to recovery. IMF Managing Director Kristalina Georgieva outlined four priorities in order to achieve economic recovery. These four points are: support for health systems, shield people and firms, reduce financial stress, and plan for recovery.
She emphasized that there is a need to “shield affected people and firms with large, timely, targeted fiscal and financial sector measures lifelines for households and businesses are absolutely a must. We need to prevent liquidity pressures from turning into solvency problems and avoid a scarring of the economy that would make the recovery so much more difficult.”
Watch this video for full details of the four key priorities for COVID-19 economic recovery.