According to the World Bank, Here is the Most Effective 'Vaccine' for Fighting Corona Virus

The coronavirus pandemic has spread to various countries in the East Asia and Pacific Region, including Indonesia.
Illustration of Coronavirus - The coronavirus pandemic has spread to various countries in the East Asia and Pacific Region, including Indonesia.

This has been led to an economic slowdown in the countries of the region.

The World Bank through its report states, East Asian and Pacific countries need to act quickly, cooperatively, and on a large scale to face and anticipate a worse economic slowdown. 

Based on the East Asia and Pacific Regional Economic Report in April 2020, there were 6 inputs submitted by the World Bank to the leaders of countries.

First, the government is advised to make adjustments to health and macroeconomic policies.

Adjustments can be made by determining key focuses such as preventing the spread of infection and anticipating the impact of the coronavirus on the economy. 

"In parallel, to reduce adverse economic impacts, the government is taking monetary, fiscal and structural steps to 'flatten the recession curve'," the World Bank wrote, as quoted on Tuesday (3/31/2020).

Then, the government is also encouraged to increase health care capacity. This is considered to be important to meet the possibility of increased demand during the pandemic period. 

"In addition to expanding conventional health care facilities and medical equipment factories, innovative steps may also be needed," said the World Bank.

Then, the World Bank advised the government to adjust fiscal and monetary policies during the Corona pandemic period.

Policy adjustments can be made by providing incentives to the community to health workers affected by the coronavirus

Furthermore, access to household credit is said to be facilitated during the corona pandemic period. This needs to be done to reduce difficulties and expedite consumption, as well as facilitate access to liquidity for companies.

Next, the government is asked to keep open trade policies even though the corona pandemic is still ongoing. In this way, the state can maintain the production of important supplies for domestic consumers. 

Finally, governments are encouraged to increase international cooperation and develop private-government partnerships, specifically to ensure the supply of key medical products.

"All countries must realize that, in addition to brave national action, increasing international cooperation is the most effective vaccine against this great threat," concluded the World Bank. (*) 

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Penulis: Lia Sisvita Dinatri
Editor: Lia Sisvita Dinatri
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