- Position Paper - Economic Repercussions of Coronavirus Disease (COVID-19) & Methods of Mitigation of Risks in Yemen
Last month, in response to the coronavirus outbreak in Yemen, the CIPE-supported Economic Reform Team (ERT) released a policy paper entitled “Economic Repercussions of COVID 19 and Methods of Mitigating its Risks.” In their paper, the ERT sheds light on the current economic situation in Yemen by analyzing the effects of the coronavirus on the humanitarian and economic conditions in Yemen. The paper also recommends policy interventions to help the economy and high-risk populations, including: extending payments to public employees, extending loans to the private sector and Yemeni citizens, enforcing tax and custom duties exemptions on basic commodities, distributing social security benefit payments, and improving the internet and virtual environment infrastructure. Moreover, the ERT recommended that the private sector should act responsibly to provide goods and services, refrain from any opportunistic and monopolistic practices, and continue to support employees during the crisis. The ERT also recommended mobilizing private sector institutions such as local chambers of commerce and civil society and business associations to lead their communities and serve their members’ needs. Resources like this are critical in uncertain economic times. CIPE and its partners in Yemen will continue to work to ensure the private sector can effectively advocate for what it and its fellow citizens need.