Economy and virus. Saving business and common sense in difficult times

29 March 2020
The economic impact from antiviral measures may be worse than the virus itself. Having lost their heads and their common sense from panic, the world's strongest economies are pushing the world into crisis, either willingly or unwillingly. Scarcity of products, weakening currencies, and entire industries closed under the quarantine.

While visiting Belgips enterprise, the President of Belarus once again addressed his world colleagues with a warning. 

In a few months, there will be a real deficit of the key products. It is true that the U.S. president, under the influence of advisors, first called for a freeze on the economy, and then refused to shut down New York for quarantine. Trump reinforced his arguments with American patriotism and a common desire to get out of the economic recession as soon as possible.  By the way, today even the most liberal market players in the world are switching to the same logic.

Kristalina Georgieva, IMF Managing Director: "We are working to restore the world economy in 2021. This is quite possible, but only if we are able to localize the virus and prevent the liquidity problem from turning into an insolvency problem. The sudden stop of the world economy threatens a wave of bankruptcies, which can not only undermine the recovery, but also destroy the structure of our society."

António Guterres, UN Secretary-General: "First, we must localize the epidemic as soon as possible. There is a need for a common strategy and solidarity support for the countries, most vulnerable to the pandemic. Secondly, we must work together to minimize the social and economic impact. Our main emphasis is on the human dimension. This is a human crisis, not a financial one. We should already focus on people who earn their living, on the solvency of enterprises".

And this is exactly what the President of Belarus was talking about two months ago at the very beginning of panic in the world.