The Impact of COVID-19

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COVID-19 – an ongoing menace to the world, has infected over 2.5 million of the planet’s population with a mortality rate of 6.8%, leading to the loss of 171,300 lives as of 21st April 2020. The efforts of global leaders and medical experts to minimise the spread of the virus can be seen with the implementation of movement control, increased expenditure on healthcare and travel bans. With the origin of the disease being from the city of Wuhan in China, the now labelled “pandemic” has seen a shift of its epicentre to countries like Italy and the United State of America. Even though a country’s main priority is the wellbeing of its population amidst this crisis, it is essential to address the economic impact of COVID-19 as well. Experts have labelled this the worst economic shock in recent history, ironically unprecedented, and not brought about by any existing shortcomings in their country’s economic performance.


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