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• The COVID-19 pandemic has caused a global economic recession.
• Governments around the world are implementing various forms of stimulus packages to help their citizens and economies recover.
• These packages range from direct cash payments, loan guarantees, and tax relief.

Introduction

The COVID-19 pandemic has caused a global economic recession, resulting in many countries implementing various forms of stimulus packages to help their citizens and economies recover.

Direct Cash Payments

One form of stimulus package is direct cash payments to individuals and households. This money is given as a one-off payment or as regular payments over a period of time, depending on the country’s policy.

Loan Guarantees

Another form of stimulus package is loan guarantees for businesses that have been impacted by the recession. This can either be done through government programs or private lenders providing loans with lower interest rates or longer repayment periods than usual.

Tax Relief

Tax relief is another common form of stimulus package implemented by governments during economic recessions. This involves reducing taxes on businesses or individuals in order to provide them with more disposable income which can be used to support the economy during difficult times.

Conclusion

In conclusion, governments around the world are using various forms of stimulus packages such as direct cash payments, loan guarantees, and tax relief in order to provide financial assistance to those affected by the current recession and help revive their respective economies.