Economic advocacy: fiscal and monetary policies. What matters most in the sustainability of companies
IOE Position Paper - June 2020
The Covid-19 emergency has turned from a health crisis into a severe economic disruption with serious consequences for labour markets, economies and enterprises including global supply chains, leading to widespread business disruptions.
The virus is the same worldwide but the impact in each country is different and the responses, and economic and fiscal capacities vary greatly among countries. There are simply no one-size fits all solutions.
The private sector is suffering unprecedented distress and the decline in economic activity will push many out of business. This situation has repercussions on employment, incomes, and a subsequent reduction in consumption which, in turn, could have serious consequences for companies and their sustainability. It is vital to break this vicious cycle; failing to do so will result in more severe socioeconomic deterioration.
This document follows the IOE Digital Conference on Economic advocacy to assure business sustainability and avoid massive job losses: what works, what does not that took place on 25 March 2020. It presents a range of policy actions that are being considered by governments in dealing with the impacts of the Coronavirus pandemic. It draws upon policy measures adopted in some countries and highlighted during the IOE Digital Conference.