post covid 19 adaptations and survivals
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Leaving aside the horrendous loss of human life, the COVID-19 crisis is an economic disaster on an unprecedented scale. The banking crisis of just over a decade ago was expected to be a once-in-a-lifetime event, but many predictions now expect its effects to be dwarfed by the abrupt coronavirus-caused cessation of much global business activity.
On 15 April, International Monetary Fund managing director Kristalina Georgieva told a meeting of G20 financial ministers and central bank governors that more than 100 countries had asked the fund for emergency assistance. Saying "everything is on the table in terms of measures we can take," she encouraged central banks to "spend as much as you can – but keep the receipts: we don't want accountability and transparency to take a back seat in this crisis."
In this world turned upside down, even fiscally conservative governments are cheque-writing their way into planned-economy territory, some bouncing straight out of a decade of belt-tightening corrective austerity with measure even their most radical opponents could never have envisaged.