HAVANA, Cuba, Apr 2 (ACN) The COVID-19 pandemic have worsened the economy of all countries. For this reason, international organizations assess and propose some measures to be taken into account in order to overcome the current situation, and those adopted in Cuba are in line with these.
Guy Ryder, director general of the International Labor Organization (ILO), in a statement on its official website, estimated about 25 million people could become unemployed, and that the workers' loss of income could reach 3.4 billion dollars, which is worsening as the impact caused by the disease grows.
To save both jobs and businesses, governments must move decisively to prevent lay-offs and protect vulnerable workers, as well as implement unprecedentedly expansionary fiscal and monetary policies to prevent the current downturn from becoming a prolonged recession, he said.
It is necessary for companies that can “keep up" and be in condition to resume operations as soon as circumstances allow, and targeted measures will be needed for the most vulnerable workers, including the self-employed, part-time workers and those in temporary employment, Ryder added.
For her part, Alicia Barcena, Executive Secretary of the Economic Commission for Latin America and the Caribbean (ECLAC), announced that the impact of COVID-19 on the region's economy will be evident with the decline in economic life in its main trading partners and the drop in the price of raw materials.
The disruption of global and regional value chains, the sharp drop in demand for tourism services, which mainly affects the Caribbean, the increase in risk aversion, the worsening of global financial conditions and the outflow of capital from the region are other causes to be taken into account, she pointed out.
In a press release published on ECLAC's official website, Barcena stated that each country will have to explore and expand its response possibilities, but it must have a massive fiscal incentive to, among the various challenges, shore up health services and protect incomes and jobs.
The lifting of unilateral sanctions and blockades is now urgent, since such measures hinder access to goods and services essential to combat the health challenge, Barcena stressed.
Currently, Cuba has a plan of measures for the prevention and confrontation of COVID -19 in which all the key State administration agencies participate, and which is focused on safeguarding people's lives and maintaining the vitality and functioning of the country.