n AfricaGrowth Agenda - COVID-19 wedges bank’s 2020 fiscal and curbs would-be new investment

Volume 17, Issue 3
  • ISSN : 1811-5187



Covid-19 not only denotes a global unrestricted wellbeing disaster but has turn out to be a global trade and industry catastrophe that could exceed the overall financial crisis of 2008-09. Right now, most countries are tirelessly designing mitigation measures to try to edge the spread of the virus and save economy. Whatsoever measures to be embraced they will come at a cost. Since Covid-19 is strictly a global shock, worldwide synchronization is critical in containment and mitigation eforts. Unquestionably, with no cure found yet, the present epidemics will suggestively have bearing on global GDP growth for 2020, one on investment downside if containment strategies are lengthened and two, banks' earnings to drop in the second quarter and thus negatively impacting the profitability of banks and hence taxes to the governments. Devising mechanisms to grapple with this pandemic, while following to expert's guidance is essential to return to business normality. Covid-19 like any other virus known illness is going to take time to be contained; henceforth learning on how to cope with it in our daily routine is necessary to kick start our economies undertakings. Based on topical literature, this short paper scans and analyse on-going discourse from past epidemics and lessons learnt to help draw an analysis on that would help to assessing short-term ifscal and monetary impact of Covid-19 on general growth amidst challenging times that most banks, governments and heads of states faces to cope with this pandemic.

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