Skip to main content

Hope for the best prepare for the worst

 Individuals infected by the Coronavirus potentially face a blow to their health and personal and economic well being.

Similarly, countries hit by a sudden and unexpected public health emergency- as Coronavirus is proving to be- can see their economies slow and their budget squeezed as they spend more to counter the impact of the virus.

At the same time, they may experience a drop in revenue from falling economic activities. Countries could also face lower export revenues due to falling tourism receipts or a decline in commodity prices.

A sudden halt in capital inflows could make the situation even worse. Together this can result in an urgent balance-of-payments need to counter the mismatch between foreign exchange inflows and outflows.

Even if an individual country is fortunate enough to escape widespread viral contagion, the spillover effects from global developments or broken supply chains may still lead to faltering economic activity.

While the physical impact of the virus will be tackled by health professionals, the IMF can help to mitigate the economic fallout from the Coronavirus. In addition to the policy and technical advice, the greatest support the IMF can provide in such emergencies is through timely financial assistance.

When the Ebola virus devastated parts of Africa- and Guinea, Liberia, and Sierra Leone suffered significant humanitarian and economic hardship- the IMF provided concessional emergency assistance of US $378 million to these three countries, a total of 2.3% of their combined GDP.

Under the IMF’s two emergency financing instruments- the Rapid Credit Facility and the Rapid Financing Instrument- Member countries can receive financing to respond to shocks, including large natural and health disasters.

The benefits of these two leading vehicles are their size, their speed, and their flexibility. In contrast, to fund programs that provide financing over time, disbursements under these two instruments are one-off payments meant to cover an urgent balance of payments needed and not subject to traditional IMF conditions.

The country has to only demonstrate that its debt is sustainable and make a commitment to economic policies that help overcome it. 

COVID Testing


Comments

Popular posts from this blog

What Are the Side Effects of COVID-19 Vaccines?

  COVID vaccination will help protect you from receiving COVID-19 . May you get some side effects, which are common signs that your body is building defenses. These side effects may affect your ability to do daily activities, but they should go away in a few days. Some people have no side effects. Over the past few weeks, we talked about the COVID vaccine and the general questions around it. One of the biggest questions we have not yet been able to answer is what are the side effects of the COVID vaccine? In the following blog, we will answer this question in depth. What are the common side effects to watch out for? Note: While vaccine side effects are a normal part of building defenses against the virus in your body, if symptoms persist or worsen, please visit a doctor. These symptoms are minor, not debilitating. The COVID vaccine side effects are: Pain, redness, or swelling at the injection site. Fever or headache. Fatigue or muscle aches. To get a cold. nausea or vomiting. swoll...

What is the importance of Vitamin D in human body?

As we know The human body produces vitamin D as a reaction to sun exposure. A person can also increase his vitamin D intake through certain foods or supplements. Vitamin D deficiency is being found in most people nowadays. Because we do not try to get this essential vitamin. While vitamin D is the easiest to obtain. As soon as you are exposed to sunlight or your skin is exposed to sunlight, the process of manufacturing vitamin D in your body starts.  Importance of vitamin d in the human body Vitamin D is actually a group of fat-soluble pro-hormones that gather in body fat. The role of vitamin D is very important in maintaining calcium and phosphorus levels in our body. Vitamin D serves as a steroid to transport calcium from the hands to the bones.  Types OF Vitamin D Vitamin D can be divided into 5 parts - Vitamin D-1, Vitamin D-2, Vitamin D-3, Vitamin D-4, and Vitamin D-5. All these vitamins contribute greatly to the health of our body. Vitamin D also plays an important role ...

Importance of AI in Medical Billing and Coding

  Republic of American Hospitals in medical billing and coding. Reducing profit margins, lowering reimbursement rates and uncertainties of healthcare reform have made the hospital a very risky business.  At Genesis RCS , consolidating small, rural hospitals into a larger system has helped save many struggling hospitals, but others have continued to lose money despite their best efforts to cut costs. In fact, between 2010 and 2018, 83 rural hospitals stopped providing inconsistent care - a much-needed service to most communities. With an aging population, how can we save our struggling health system to ensure that patients have access to the services they need to stay healthy? Experts have spent the last decade looking for answers without much promise. While many believe that we need a miracle to solve this mess, which is to make us work smart for healthcare organizations, not hard. AI to be liberated in medical billing and coding? To accomplish this, many organizations have tu...