COVID-19 and the Economy – Reactions in the World and Brazil

BRAZIL ECONOMICS - Report 23 Mar 2020 by Affonso Pastore, Cristina Pinotti and Marcelo Gazzano

Governments the world over have uniformly reached decisions to minimize the deaths caused by the pandemic, even at the cost of economic paralysis. The smoothing of the contagion curve sought by social distancing has reduced the stress on the health system of each country, and hopefully will lower the number of deaths at the end of the process. It’s a relief to see governments not hesitating to establish measures meant to save lives, and the hope now is that a cure will be found quickly to reduce the severity of the infection. The definitive solution will only come with the development of a reliable vaccine to prevent the emergence of new waves after the quarantine rules are relaxed. Until science succeeds in these tasks, the world will have to live with the problem as best as possible, to preserve the pillars for a healthy recovery.

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