Over the past few months, COVID-19 has caused large-scale disruptions to the global economy. The International Monetary Fund has estimated that the global economy is likely to contract by 3% in real terms in 2020. Global Trade is not expected to regain its pre-COVID-19 levels before 2023. With border closures and synchronised lockdowns, business across most industries is adversely impacted and several sectors in Singapore such as aviation, hospitality, retail, transport and tourism are bearing the brunt of the pandemic. In response, governments the world over, including Singapore, have introduced various schemes to minimise job losses and mitigate losses suffered by businesses. One of the key concerns was to ensure that there is adequate liquidity in the markets for the efficient functioning of economic activities.
The aim of this closed-door discussion would be to examine the impact of policy measures for ameliorating the adverse impacts of COVID-19. Some of the policy measures taken have primarily been to provide the necessary measures to keep businesses running and preserve their core capabilities for swift recovery. As the government tapers its stimulus policy measures, which measures need to be enhanced or trimmed down? Are there additional financial/fiscal measures that need to be implemented? We hope you can join us in the discussions.
Please view the programme here.
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