With many countries’ economies already slowing before the pandemic, COVID-19 poses a serious risk of sending many countries into recession.
In response, governments and central banks all over the world have enacted fiscal and monetary stimulus measures to counteract the disruption.
The USA approved a USD2 trillion stimulus package(10% of its GDP); Canada will spend USD19 billion with additional USD38 billion in tax deferrals (4% of its GDP); while Singapore set aside USD42 billion for its fiscal stimulus package(12% of its GDP).
How far will the rescue packages go to bring relief to struggling economies, companies and citizens?
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