Former Senator Atty. Joey D. Lina
The impact of the economic crisis resulting from the coronavirus pandemic worsened by the Delta variant would be with us for years before any signs of recovery could be seen on the horizon.
No less than the International Monetary Fund has affirmed that the current recession sparked by the pandemic is a “crisis like no other” and is much worse than the 2008 global financial crisis.
“Never in the history of the IMF have we witnessed the world economy coming to a standstill,” IMF managing director Kristalina Georgieva said on April last year. And more than a year has passed since the IMF’s grim assessment and it appears the bleak situation has even worsened with the onslaught of more coronavirus mutations like the highly transmissible Delta variant which sparked more new Covid-19 cases in the Philippines.
With our economy plunging deeper into recession amid…