Around the globe, a tiny virus has brought human devastation, wreaked economic havoc, and confronted governments with a challenge unlike any seen in recent history. Sponsored by Deloitte
Reopening the economy in this new environment will require an entirely new role for governments, as they become responsible for monitoring the prevalence of COVID-19 across multiple regions and communicating with individuals and businesses alike about what activities are permissible in which locations.
There are a range of potential milestones governments can review to help guide the reopening of economies. Critical criteria would naturally include evidence that the number of cases is declining across geographies, which will be aided by the wide-spread availability of testing. But governments may also want to ensure a certain level of public health preparedness, making sure hospitals have sufficient capacity and necessary supplies in case of a resurgence of the virus.
Government has a new, unprecedented role in this recovery: to continuously monitor public health by region to understand exactly how much economic activity can be tolerated before risking renewed outbreaks of the disease.The act of reopening will most likely not be enough to bring economies back to pre-pandemic status. Many businesses won’t have the wherewithal to simply pick up where they left off.
Most governments are taking a phased approach to reopening. Many are requiring modifications to or new rules for operations, such as introducing capacity limitations, requiring masks be worn by employees and customers, requiring frequent cleanings and myriad other steps to make economic activity less prone to spread infection. Defining and enforcing these guidelines won’t be easy.
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