TITLE:
Mitigating the Socio-Economic Impacts of COVID-19; Role of Governments in Sub-Saharan Africa, Fiscal and Monetary Policy Perspectives
AUTHORS:
Elijah Asante Boakye, Hongjiang Zhao, Bright Nana Kwame Ahia, Millicent Adu Damoah
KEYWORDS:
COVID-19, Sub-Saharan Africa, Fiscal & Monetary Policy, Socio-Economic Impact
JOURNAL NAME:
Open Journal of Social Sciences,
Vol.8 No.11,
November
27,
2020
ABSTRACT: In this paper, we
investigate the role of governments in mitigating the socio-economic impacts of
COVID-19. We also try to evaluate the fiscal and monetary policy interventions
by governments and assess how such policies could be sustained. Taking Ghana as
a sample, this study reveals that, the coordinated applications of monetary and
fiscal policies are lifesaving, preventing loss of incomes and jobs, protecting bankruptcies in businesses, and finally
enhancing economic recovery. We propose a CCCRD Model which could serve as a
global strategy for governments in the fight against COVID-19. Backing such
policies with legislation could help in their sustenance.