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COVID-19 Crisis Response in MENA Countries
From the Key Takeaways: "Governments in the MENA [Middle East and North Africa] region have rapidly reacted to contain the Coronavirus (COVID-19). With all necessary caution at this stage of pandemic, contagion seems limited so far, and the public health consequences less severe than expected. However, the pandemic is already causing dramatic economic (drop in oil revenues, remittances, FDIs [foreign direct investment] and tourism) and social consequences, in particular for the most vulnerable (youth, women, informal workers). A regional agenda of reform could help address the region' structural imbalances and support the design of a new inclusive growth model."
Organisation for Economic Co-operation and Development
2020-06-09
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Investment Promotion Agencies in the Time of COVID-19
From the Document: "Unpredictable events and crises -such as the current COVID-19 [coronavirus disease 2019] pandemic -pose significant challenges to public authorities. Investment promotion agencies (IPAs) are at the forefront of business attraction and supply chain management and need to be ready to react quickly to these challenges. This note reviews the impact of the COVID-19 crisis on international investment flows and government responses. It summarises the findings of the OECD [Organisation for Economic Co-operation and Development] IPA Network meeting on 9 April 2020 and outlines short-term and long-term responses."
Organisation for Economic Co-operation and Development
2020-06-06
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OECD Investment Policy Responses to COVID-19
From the Document: "The COVID-19 [coronavirus disease 2019] pandemic has led, in addition to dramatic health implications for people around the globe, to an almost immediate and profound economic upheaval in many economies. The health and economic crises have governments scrambling for responses to limit the damage and impact on their societies and economies. This note considers the implications and challenges for international investment and offers initial responses from the OECD [Organisation for Economic Co-operation and Development] investment policy community as economies around the world address the crisis and prepare for the recovery."
Organisation for Economic Co-operation and Development
2020-06-04
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COVID-19 Crisis Response in Central Asia
From the Overview: "The global COVID-19 [coronavirus disease 2019] pandemic is having a significant negative impact on the economies of Central Asia. Trade has been severely disrupted, healthcare systems are coming under strain, and consumption and investment are plummeting. The crisis is affecting key drivers of growth in the region, including migrant remittances, oil and mineral exports, and the service sector. Relatively undiversified structures of production and exports, along with the high level of informality in some countries, have exacerbated a number of challenges that arise as governments respond to the crisis and have put pressure on public finances. Governments in the region have made serious interventions to support the liquidity of households and businesses and most of them are now starting to relax confinement measures. A number of countries have implemented short-term public health, monetary and economic policy measures, especially for small firms and have received emergency assistance from international partners. The gradual deconfinement initiated in some countries will call for a careful observation of health measures and the use of test, track and trace strategies when possible as well as the continuation of some economic support to accompany business reopening and recovery. This will also be an opportunity to consider long-term overdue structural reforms to the business environment and competition that will be crucial to long-term recovery and resilience."
Organisation for Economic Co-operation and Development
2020-06-04
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Tourism Policy Responses to the Coronavirus (COVID-19)
From the Document: "The tourism economy has been heavily hit by the coronavirus (COVID-19) pandemic, and measures introduced to contain its spread. Depending on the duration of the crisis, revised scenarios indicate that the potential shock could range between a 60-80% decline in the international tourism economy in 2020. Beyond immediate measures to support the tourism sector, countries are also shifting to develop recovery measures. These include considerations on lifting travel restrictions, restoring traveller confidence and rethinking the tourism sector for the future."
Organisation for Economic Co-operation and Development
2020-06-02
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Treatments and a Vaccine for COVID-19: The Need for Coordinating Policies on R&D, Manufacturing and Access
From the Document: "This brief discusses policies needed to ensure equitable and universal access by all those in need globally to future vaccines for SARS-Cov-2 [severe acute respiratory syndrome coronavirus 2], the virus that causes COVID-19 [coronavirus disease 2019], and treatments for the disease. It provides a snapshot of the vaccine and drug candidates in the current R&D [research and development] pipeline. It then discusses the need for international co-operation to focus on three critical issues which are beyond the initial phases of clinical research. First, there is a need for 'pull' mechanisms to incentivise the swift completion of the most promising R&D projects, and avoid that they are abandoned mid-way should the pandemic subside. Second, large-scale manufacturing capacity has to be built even before we know which candidates will be successful. This is particularly important for vaccines to ensure timely production of a large number of doses needed,and could also be achieved through designing appropriate pull mechanisms. Third, rules need to be set now to manage intellectual property rights and procurement to ensure equitable access, affordability and supply in sufficient quantities."
Organisation for Economic Co-operation and Development
2020-05-29
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Responding to the COVID-19 and Pandemic Protection Gap in Insurance
From the Document: "The COVID-19 [coronavirus disease 2019] pandemic and the measures taken to limit the spread of the disease have significantly disrupted economic activity in countries around the world, resulting in significant business interruption losses. The vast majority of these losses are likely to be absorbed by policyholders as, unless governments (or courts) intervene, few companies have business interruption coverage that is likely to respond to these types of losses-exposing the existence of an important protection gap for some pandemic-related business interruption losses. This note provides an overview of how business interruption insurance against pandemic risk could be provided with support from governments, and some of the challenges and considerations necessary for establishing such a programme."
Organisation for Economic Co-operation and Development
2020-05-28
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'Debt Standstill' for the Poorest Countries: How Much is at Stake?
From the Document: "Developing countries are already suffering from the health, social and economic consequences of the coronavirus. A looming debt crisis would be catastrophic. On 15 April, G20 [Group of Twenty] finance ministers agreed to a debt 'standstill' for 2020. This policy paper aims to illustrate the impact of this decision on donors and developing countries, including an assessment of the countries that will bear the burden of immediate debt service suspension. While successful at alleviating immediate liquidity pressures, this policy should be followed by country-by-country analyses of sustainability. A 'debt standstill' for the poorest countries: How much is at stake?"
Organisation for Economic Co-operation and Development
2020-05-27
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Supporting Businesses in Financial Distress to Avoid Insolvency During the COVID-19 Crisis
From the Document: "The slowdown of economic activity caused by the COVID-19 [coronavirus disease 2019] outbreak and related emergency measures implemented to tackle the health crisis have led to severe difficulties for companies to meet their financial obligations. Many of the fixed costs, such as rents and interest payments, remain due while the cash flow destined to meet these obligations has vanished. As a result, many otherwise sound companies are facing acute liquidity constraints that eventually might become solvency problems."
Organisation for Economic Co-operation and Development
2020-05-27
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Stocktaking Report on Immediate Public Procurement and Infrastructure Responses to COVID-19
From the Introduction: "The COVID-19 [coronavirus disease 2019] outbreak has brought unprecedented challenges for governments to ensure not only the health of their citizens but also public service continuity. Public procurement strategies and infrastructure plans are at the frontline of countries' responses to the COVID-19 crisis. Governments have to purchase urgently vital health products and services needed in the immediate response to the COVID-19 crisis while at the same time they have to ensure the smooth and accountable management of ongoing contracts needed for ensuring public services to their citizens. Functioning critical infrastructure is also particularly important during the COVID-19 response not only for public health and safety but also for community well-being. Certain critical public services and infrastructure industries have a special responsibility to continue operations during these unprecedented times."
Organisation for Economic Co-operation and Development
2020-05-27
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Tax Administration: Privacy, Disclosure and Fraud Risks Related to COVID-19
From the Document: "Tax administrations around the globe are taking a series of extraordinary measures to support taxpayers and the wider economy, including through helping to deliver wider government support, while also taking a range of actions to ensure continuity of critical operations and the safety of staff and customers. The speed with which those measures are implemented and the adjustments to some tax administration processes and ways of working can lead, however, to a significant increase of the risks of lapses or deviations from disclosure and privacy requirements as well as the risks of fraud. This document captures some of those high-level risks as well as possible mitigation strategies with a particular focus on remote working issues."
Organisation for Economic Co-operation and Development
2020-05-26
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Tax Administration Responses to COVID-19: Recovery Period Planning
From the Document: "Tax administrations around the globe are taking a series of extraordinary measures to support taxpayers and the wider economy, including through helping to deliver wider government support, while also taking a range of actions to ensure continuity of critical operations and the safety of staff and customers. In order to help inform tax administrations' decision-making in these areas, the OECD [Organisation for Economic Co-operation and Development] Forum on Tax Administration (FTA), in co-operation with the Inter-American Center of Tax Administrations (CIAT) and the Intra-European Organisation of Tax Administrations (IOTA), has produced two COVID-19 [coronavirus disease 2019] reference documents, one on measures to support taxpayers and one on business continuity considerations. This third COVID-19 reference document looks at some of the main issues that tax administrations may wish to consider in their planning for the recovery period from the pandemic. This may be a lengthy period given the depth and scale of the economic shock and the likely continuing need for some containment measures."
Organisation for Economic Co-operation and Development; Intra-European Organisation of Tax Administrations; Inter-American Center of Tax Administrations
2020-05-26
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Policy Measures to Avoid Corruption and Bribery in the COVID-19 Response and Recovery
From the Document: "The coronavirus (COVID-19) crisis has brought about unprecedented challenges of human suffering, uncertainty and major economic disruption on a global scale. This can create environments that are ripe for corruption and bribery. For this reason, state and private sector responses to this crisis should include mechanisms for preventing, detecting and prosecuting corruption and bribery. Some corruption risks are immediate due to the actions taken to mitigate the health and economic crisis. Other risks will emerge in the medium to long term as the consequences and impact of COVID-19 emergency measures take greater effect. Under these circumstances, the progressive decline of citizen trust in public institutions and business will become even more evident. Identifying and addressing corruption risks will thus be crucial to protect trust in public institutions and business, and to galvanise public confidence in the governments' ability to mobilise an effective crisis response. Policy measures to avoid corruption and bribery in the COVID-19 response and recovery."
Organisation for Economic Co-operation and Development
2020-05-26
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Trade Finance in Times of Crisis -- Responses from Export Credit Agencies
From the Document: "Trade finance serves as the lifeblood of the day-to-day international trade in goods and services. Due to the significant impact of the Coronavirus pandemic (COVID-19) on the world economy, concerns are growing with respect to the cost and availability of trade finance. In response to these concerns, governments are turning to their export credit agencies (ECAs) to step-in and attempt to fill the financing gaps, as they did in response to the 2008-2009 financial crisis."
Organisation for Economic Co-operation and Development
2020-05-25
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Independent Fiscal Institutions: Promoting Fiscal Transparency and Accountability During the Coronavirus (COVID-19) Pandemic
From the Document: "Governments worldwide are taking unprecedented action to respond to the Coronavirus (COVID-19) pandemic, adopting fiscal measures worth billions or even trillions of dollars to safeguard the wellbeing of their citizens and support households and businesses through a period of massive economic disruption. This report examines the response of independent fiscal institutions (IFIs) during this first rescue phase of the crisis,as they provide rapid analysis to decision-makers and the public. With many legislatures facing operational challenges and emergency protocols to expedite legislation, IFIs have a critical role to play supporting legislatures as they approve and oversee emergency measures."
Organisation for Economic Co-operation and Development
2020-05-22
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Supporting Livelihoods During the COVID-19 Crisis: Closing the Gaps in Safety Nets
From the Document: "The COVID-19 [coronavirus disease 2019] crisis has laid bare pre-existing gaps in social protection provisions. As employees fell ill, reduced their working hours or lost their jobs, paid sick-leave schemes, short-time work schemes and unemployment benefits have kicked in. This has helped to sustain the incomes of many, but even in countries with the most advanced social protection, some workers with non-standard jobs and their families miss out. The situation is worse in countries with large informal sectors where growing numbers of people lose work without any access to income. This policy brief discusses the measures countries have taken to support the livelihoods of those who cannot access unemployment benefits or short-term work schemes. It examines the raft of new programmes introduced across the OECD [Organisation for Economic Co-operation and Development] and beyond, including means-tested assistance, new cash transfer schemes, and direct support for those struggling to meet their expenses. It also discusses how to close social protection gaps beyond the crisis to ensure inclusive growth post-COVID-19."
Organisation for Economic Co-operation and Development
2020-05-20
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Tax and Fiscal Policy in Response to the Coronavirus Crisis: Strengthening Confidence and Resilience
From the Document: "This report focuses on how tax policy can aid governments in dealing with the COVID-19 [coronavirus disease 2019] crisis. The report finds that governments have taken decisive action to contain and mitigate the spread of the virus and to limit the adverse impacts on their citizens and their economies. Through various measures, countries are helping businesses stay afloat, supporting households and helping preserve employment. This readiness to act helps boost confidence. However, further action, with broader and stronger measures, is needed. Policies will need to be adapted to the evolving health and economic challenges."
Organisation for Economic Co-operation and Development
2020-05-19
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Coronavirus (COVID-19): SME Policy Responses
From the Document: "This note discusses how SMEs [small and medium-sized enterprises] are affected by the current COVID-19 [coronavirus disease 2019] pandemic, reports on early evidence and estimates about the impact, and provides an inventory of country responses to foster SME resilience. Given the rapid pace of developments, the overview of country responses is not comprehensive and in some cases includes intended policy responses that are still a work in progress, or simply at the stage of public announcements."
Organisation for Economic Co-operation and Development
2020-05-19
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Crowdsourcing STI Policy Solutions to COVID-19
From the Key Messages: "[1] Governments can deploy non-traditional approaches to science, technology and innovation policy making that draw on society's collective intelligence to find solutions to the coronavirus (COVID-19) crisis. [2] Tools such as innovation prizes, prediction markets, and open-source solutions have shown value and are well-suited to immediately respond to today's crisis."
Organisation for Economic Co-operation and Development
2020-05-14
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Contribution of Migrant Doctors and Nurses to Tackling COVID-19 Crisis in OECD Countries
From the Document: "This brief focuses on the contribution of migrant doctors and nurses to OECD [Organisation for Economic Co-operation and Development] health systems and how OECD countries have adapted the recognition of foreign credentials to mobilise additional doctors and nurses with foreign degrees in response to COVID-19 [coronavirus disease 2019]. It also highlights the potential impact on countries of origin, some of which were already facing severe shortages of skilled health workers before the COVID-19 pandemic, and the need for a global response to the global health worker shortage. Contribution of migrant doctors and nurses to tackling COVID-19 crisis in OECD countries."
Organisation for Economic Co-operation and Development
2020-05-13
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Cities Policy Responses
From the Document: "This note was developed by the OECD [Organisation for Economic Co-operation and Development] Centre for Entrepreneurship, SMEs [subject matter experts], Regions and Cities (CFE) in collaboration with the OECD Working Party for Urban Policy and the OECD Champion Mayors Initiative for Inclusive Growth. It is an update of the version released on 27 March, which expands the examples of measures taken by cities to respond to COVID-19 [coronavirus disease 2019] and provides analysis on issues related to the economic impact, density, resilience and collaboration with national governments. Short and medium term responses provided by cities are clustered around six categories: i) social distancing; ii) workplace and commuting; iii) vulnerable groups; iv) local service delivery; v) support to business; and vi) communication, awareness raising and digital tools. The note also includes new information on how cities are progressively exiting the lockdown and on lessons learned in terms of density, mobility and digitalisation. It concludes with action-oriented guidance to build back better cities, building on previous work on urban resilience. Annex A provides more detailed information on the inventoried city initiatives. Annex B maps efforts from selected organisations and city networks to collect city responses and foster knowledge and experience sharing. This is a working and living document, whose next version will be released by the end of June."
Organisation for Economic Co-operation and Development
2020-05-13
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COVID-19 Crisis Response in Eastern Partner Countries
From the Context: "The impact of the Covid-19 [coronavirus disease 2019] crisis on public health in the six EU Eastern Partner (EaP) countries so far remains limited compared to Western Europe, with 840 reported fatalities in the region as of 12 May. Armenia, Azerbaijan and Georgia (because of their proximity to Iran) saw the region's first cases of Covid-19 in late February. Swift containment measures and limited intra-regional mobility have so far helped limit the spread of the virus, and the number of recorded cases remains relatively low in the South Caucasus. As the epicentre of the pandemic shifted first to Italy and then to other West European states in early March, the Republic of Moldova and Ukraine started to record more cases and adopted containment measures similar to those of other European countries: closure of schools, limitations on international travel, and restrictions on public gatherings. Currently, Belarus is the only EaP country without comprehensive containment measures in place. Strict containment imposed in Georgia at the start of the outbreak has already led to promising initial results in flattening the curve of new infections. As long as the virus circulates and a vaccine is not available, however, the public health situation could rapidly change."
Organisation for Economic Co-operation and Development
2020-05-12
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Why Open Science is Critical to Combatting COVID-19
From the Key Messages: "[1] In global emergencies like the coronavirus (COVID-19) pandemic, open science policies can remove obstacles to the free flow of research data and ideas, and thus accelerate the pace of research critical to combating the disease. [2] While global sharing and collaboration of research data has reached unprecedented levels, challenges remain. Trust in at least some of the data is relatively low, and outstanding issues include the lack of specific standards, co-ordination and interoperability, as well as data quality and interpretation. [3] To strengthen the contribution of open science to the COVID-19 response, policy makers need to ensure adequate data governance models, interoperable standards, sustainable data sharing agreements involving public sector, private sector and civil society, incentives for researchers, sustainable infrastructures, human and institutional capabilities and mechanisms for access to data across borders."
Organisation for Economic Co-operation and Development
2020-05-12
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When a Global Virus Meets Local Realities: Coronavirus (COVID-19) in West Africa
From the Document: "This brief, prepared by the Sahel and West Africa Club Secretariat, provides important contextual information on a region that was already grappling with conflict and a food and nutrition crisis prior to the Coronavirus (Covid-19) outbreak. 17 million people are expected to be in food crisis situation or worse between now and the upcoming lean season if appropriate measures are not taken and armed violence is causing an unprecedented humanitarian emergency in the Sahel. With the spotlight now on Covid-19, pre-existing crises run the risk of being neglected."
Organisation for Economic Co-operation and Development
2020-05-11
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Insurance Coverage and COVID-19
From the Document: "As the coronavirus (COVID-19) pandemic spreads around the world, the health crisis and subsequent restrictions imposed to tackle the crisis are significantly disrupting travel, business operations and supply chains. Individuals and businesses face important costs and losses prompting questions around available insurance coverage and the need for policy intervention in the future. Insurance is an important financial tools for when extreme events such as disasters occur, making available financial protection for populations that may otherwise be economically exposed."
Organisation for Economic Co-operation and Development
2020-05-07
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COVID-19 in Africa: Regional Socio-Economic Implications and Policy Priorities
From the Document: "Although the number of COVID-19 [coronavirus disease 2019] cases and fatalities might still appear comparatively low in Africa than in other world regions, the looming health shock of COVID-19 could have disastrous impacts on the continent's already strained health systems, and could quickly turn into a social and economic emergency. Beyond health risks, the COVID-19 shock to African economies is coming in three waves: (i) lower trade and investment from China in the immediate term; (ii) a demand slump associated with the lockdowns in the European Union and OECD countries; and (iii) a continental supply shock affecting domestic and intra-African trade. It is shaking commodity-driven growth models that had largely failed to create more and better jobs or improve well-being. On the health front, greater capacities to test, protect, treat and cure are essential. On the socio-economic front, policy measures should cushion income and jobs losses, while tackling the specific challenges of high informality. Beyond the immediate response, recovery strategies should include a strong structural component to reduce dependence on external financial flows and global markets, and develop more value-adding, knowledge-intensive and industrialised economies, underpinned by a more competitive and efficient services sector. Effective implementation of the AfricanContinental Free Trade Area (AfCFTA) and the African Union's productive transformation agenda can strengthen regional value chains, reduce vulnerability to external shocks, advance the digital transition, and build economic resilience against future crises."
Organisation for Economic Co-operation and Development
2020-05-07
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VET in a Time of Crisis: Building Foundations for Resilient Vocational Education and Training Systems
From the Document: "This policy brief examines the impact of the COVID-19 [coronavirus disease 2019] crisis on vocational education and training (VET) systems and how VET systems are responding in OECD [Organisation for Economic Co-operation and Development] countries. The brief also presents steps that governments can take in the context of this crisis to build foundations for tomorrow's strong and resilient VET systems."
Organisation for Economic Co-operation and Development
2020-05-06
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Providing Science Advice to Policy Makers During COVID-19
From the Document: "It is critically important for scientists and policy makers to work together to develop and implement policies that have the greatest likelihood of success in responding to the coronavirus (COVID-19) outbreak. This is particularly challenging in a situation where much of the evidence is uncertain and is evolving rapidly. Science advisory processes are organised differently in different countries but they invariably engage a variety of institutions, committees and individuals to assess and provide evidence to policy makers."
Organisation for Economic Co-operation and Development
2020-05-05
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Trade Interdependencies in COVID-19 Goods
From the Document: "Ensuring access to medical equipment and medicines is one of the most immediate issues arising from the COVID-19 [coronavirus disease 2019] crisis. Health services not only need these to fight the virus, but also to protect their workers and others from infection. Increasingly, workers employed in other critical sectors, and the wider public, are also relying on protective garments, such as plastic gloves or facemasks, to reduce transmission. This note looks at the trade links between countries in some of the products that matter for the fight against COVID-19 (referred to as COVID-19 goods)."
Organisation for Economic Co-operation and Development
2020-05-05
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Corporate Sector Vulnerabilities During the Covid-19 Outbreak: Assessment and Policy Responses
From the Document: "This brief investigates the financial vulnerability of non-financial firms associated with confinement measures introduced in most world economies to tackle the Coronavirus (COVID-19) epidemic. Based on empirical simulations, it evaluates the extent to which firms may run into a liquidity crisis and discusses the immediate steps that governments can take to reduce the risks and depth of such crisis, ensuring that it does not turn into a solvency crisis."
Organisation for Economic Co-operation and Development
2020-05-05
