R&S Shipping

Reacting to COVID-19

Global organizations and country governments are taking steps to reduce the impact of the CODVID-19 crisis. Due to the rapid spread of the virus, acting in a timely manner can guarantee that the health systems of the countries do not collapse.

The economic impact that has been had due to the slowdown in China, the border closures of many countries and all the containment measures taken; It has significantly slowed down the economy, and will depend on how fast the virus outbreak is contained; this will be the resumption of distribution systems; meanwhile, the supply chain has been hit hard.

The central governments of the countries have the responsibility to protect the population not only against the virus but also from the economic blow that will come post-pandemic.

Each country has carried out or will carry out a plan to strengthen those who are the engines of the economy in order to bring the economy back to normal at the end of the world emergency. For example, the United States presented an extensive stimulus program in order to strengthen the financial, fiscal, and administrative sectors.

Other countries are implementing transitional laws for a state of emergency, such as China that issued a series of fiscal measures for key areas and sectors.

Other countries in Europe have opted for the implementation of subsidies for companies or the suspension of tax payments, which will also generate a blow to the economy of these countries in the future.

At the moment it’s still early to see the economic blow that the pandemic is going to make after it passes around the world, for now, we only see the mitigation actions that each country is taking and we trust they are the ones that best help our economy.