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The rapid spread of coronavirus disease 2019 (Covid-19) is a public health challenge that has affected all of us globally. It has required governments, and particularly healthcare systems, to respond swiftly and in a coordinated way to ensure that they are properly mitigating and responding to the evolving situation to ensure the wellbeing of their citizens.
This is above all a human and social crisis, necessitating some significant changes in the way everyone goes about their daily lives. As efforts to manage the spread radiate across the world, the impact to businesses and economies has become increasingly significant.
Our clients are assessing (as we are ourselves), on a continuous basis, how to address the threat posed by Covid-19 to their workforce, customers, suppliers and wider stakeholders. Financial markets are experiencing considerable turbulence. The situation has the potential to generate both a supply-side and a demand-side shock.
Every organisation will have individual and sectoral considerations relevant to their particular circumstances, and each organisation will likely approach this evolving situation through their business continuity plan.
However, these plans may not foresee a situation of this complexity, magnitude and duration.
The topics covered below offers some practical guidance around how organisations might approach the impact of Covid-19 from a governance and risk perspective, together with some answers to some of the legal questions which we have been receiving over the last few weeks.
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Each organization should have a crisis management policy to ensure that key employees and management are familiar with its operation. Please refer to this chapter for guidance on how a situation like Covid-19 be approached from a crisis management perspective.
As Covid-19 continues to spread across the region, the like hood of your organization being directly impacted by outbreak. Each organization should ensure it has in place a robust organizational resilience plan which addresses he following issues. Find out more in this chapter.
The Portuguese Government and Parliament have introduced several measures aimed at diminishing the effects that might result from the Covid-19 pandemic. These measures apply in various domains and take several forms including direct government support.
The Portuguese legislator has been particularly active during this pandemic period in establishing extraordinary measures in what concerns labour relations. Find here the relevant measures concerning mandatory teleworking regime, a special assistance regime due to school’s closure, among others.
Exceptional and temporary regime of flexibilisation of the compliance with tax and Social Security obligations, in the context of the Covid-19 pandemic.
Both the Bank of Portugal and the Portuguese Securities Market Commission have enacted measures and recommendations in response to the Covid-19 pandemic.
The Portuguese Government has taken several financial-related measures in order to try and attenuate the effects of the Covid-19 pandemic on individuals and businesses. Within these measures, one is of particular significance: a general moratorium on loans.
Please find below an overview of our recent Covid-19 publications