President Moon: "The Economic Impact of COVID-19, the Most Urgent Uncertainty"

Cheong Wa Dae Senior Secretary and Secretary Meeting: "The Government Must Take Extraordinary Measures in This Critical Economic Situation"

[Asia Economy Reporter Ryu Jeong-min] On the 24th, President Moon Jae-in said at the Blue House senior secretaries and aides meeting, "International organizations and financial institutions, including the IMF, are defining the economic shock caused by COVID-19 as the most urgent uncertainty and are recommending that governments around the world take action at this time."

[Image source=Yonhap News]

President Moon stated, "The government must also take extraordinary measures for this emergency economic situation. This is an unusual emergency," adding, "We must never hesitate. We should place no limits on policy imagination, make bold decisions, and proceed swiftly."

President Moon said, "Many countries such as China, Japan, Singapore, and Taiwan are presenting measures for external support and mitigating economic shocks. The voices of businesses, small merchants, and economic organizations on the ground are desperate. The situation has worsened," and continued, "I hope the government listens to the voices from the economic frontlines, which are pleading that they cannot see even an inch ahead, and mobilizes all policy tools to take immediate action. The government must stand at the forefront of overcoming this extraordinary situation and actively respond to the demands from the field."