The US and Britain led a multi-billion-dollar global fightback against economic havoc wreaked by the coronavirus as the European Union shut its borders to travellers from outside for 30 days to stem the pandemic’s ferocious spread.
The sweeping measures, never before seen in peacetime, have upended society worldwide and roiled financial markets on fears of a global recession. The coronavirus outbreak, which first emerged in China late last year, has quickly marched across the globe, infecting nearly 2,00,000 persons and killing 7,900 as governments scramble to contain it.
Following criticism that they were mismanaging their crisis response, London and Washington on Tuesday announced massive economic stimulus packages. President Donald Trump said the White House was discussing a “substantial” Spending Bill with Congress that would include immediate cash payments to Americans.