The World Health Organization on March 11 has declared covid-19 as a pandemic, raising its alertness to the maximum. Many countries around the world have declared a state of emergency, closed national borders and blocked the movement of people between regions. Also, many countries have announced fiscal policy measures as part of their effort to mitigate the socioeconomic impact of the covid-19 pandemic. Despite these efforts, covid-19 is predicted to last for some time with its impact, it has been claimed, so devastating as to create an economic crisis on a global scale.
