Supporting the financial resilience of citizens throughout the COVID-19 crisis

The COVID-19 pandemic has wide implications for the socio-economic fabric worldwide. In addition to health fears, citizens are facing a host of financial uncertainties stemming from the temporary closure of businesses, schools, public facilities and quarantines, as well as instability in the stock m...

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Bibliographic Details
Corporate Author: Organisation for Economic Co-operation and Development
Format: eBook
Language:English
Published: Paris OECD Publishing 2020
Series:OECD Policy Responses to Coronavirus (COVID-19)
Subjects:
Online Access:
Collection: OECD Books and Papers - Collection details see MPG.ReNa
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520 |a The COVID-19 pandemic has wide implications for the socio-economic fabric worldwide. In addition to health fears, citizens are facing a host of financial uncertainties stemming from the temporary closure of businesses, schools, public facilities and quarantines, as well as instability in the stock market and retirement income uncertainties. These can result in lost income, trouble paying bills, and meeting other financial obligations, as well as the risk of falling victim to scams and fraud. Policy makers worldwide need to increase the awareness of citizens about effective means to mitigate the impact of the COVID-19 pandemic and its potential long-term consequences for their financial resilience and well-being. Taking domestic contexts into account, governments could consider the following initial measures