Thursday
March 19
2020

Coronavirus Will Be Even Worse For Low-Income People And Businesses, But Fintechs Can Help

By Vikas Raj

As the world reacts to the novel coronavirus — now officially a pandemic according to the World Health Organization — many countries are beginning to suggest ways to help the citizens hurt by the virus. Quantitative easing to bolster the stock market, tax breaks and extensions for the sick, and stimulus for industries affected by the crisis are all on the table, from across the political spectrum. But coronavirus isn’t just an issue for people who are infected and those hurt by stock market declines. With many offices shut down, tourism grinding to a halt, and yes, even the NBA on indefinite suspension, we are beginning to see how spurts of economic inactivity are particularly difficult for the economically vulnerable and may have long-lasting effects.

Photo courtesy of Rob Tinworth.

Source: Forbes (link opens in a new window)

Categories
Finance
Tags
coronavirus, financial health, financial inclusion, financial services, fintech