Financial Education Responses to COVID-19
Citizens are facing a host of financial uncertainties stemming from the temporary closure of businesses, schools, public facilities and quarantines, as well as instability in the stock market and retirement income uncertainties. These can result in lost income, trouble paying bills, and meeting other financial obligations, as well as the risk of falling victim to scams and fraud. Policy makers worldwide need to increase the awareness of citizens about effective means to mitigate the impact of the COVID-19 pandemic and its potential long-term consequences for their financial resilience and well-being.
This policy brief outlines initial the measures that policy makers can make to increase citizen awareness about effective means of mitigation for the impact of the COVID-19 pandemic and its potential consequences on their financial resilience and well-being.
This policy brief provides recommendations that can assist policy makers in their consideration of appropriate measures to help financial consumers, depending on the contexts and circumstances of individual jurisdictions, during the COVID-19 crisis. These options are consistent with the G20/OECD High Level Principles on Financial Consumer Protection that set out the foundations for a comprehensive financial consumer protection framework.
This policy brief outlines the increased financial vulnerabilities that senior citizens face as result of the COVID-19 crisis and provides measures that governments can take to mitigate these risks and address the financial needs of the elderly ageing populations.
Webinar: COVID 19 implications on financial education and financial consumer protection policies in the CIS May 2020
Discussion on priorities stemming from the current crisis, including aspects of financial education policies and practices that require reassessment and adaptation, as well as immediate financial consumer protection responses that policy makers may adopt in the context of the COVID-19 crisis.
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