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Saturday, September 19, 2020

What No One Will Tell You About Racism In Canada By Samuel Osho

At the climax of dramatic events that have flipped the year 2020 on its head, the inhumane killing of George Floyd by a Minneapolis police officer has resurrected a new wave of anti-black racism protests in North America and other parts of the world....

Courage under Fire: Policy Responses in Emerging Market and Developing Economies to the COVID-19 Pandemic

By Martin Mühleisen, Vladimir Klyuev, Sarah Sanya The coronavirus crisis is a crisis like no other, and for emerging market and developing economies (EMDE), it has triggered a policy response like no other, both in scope and magnitude. Despite their diversity, and in some cases, strained...

Shareholder Sacrifice | Rebuilding, Recovery and Resilience | $9 Trillion in Fiscal Support | Pandemics and Inequality

In a new op-ed published yesterday in the Financial Times, IMF Managing Director Kristalina Georgieva called for halting all bank dividends and buybacks, writing that shareholders who sacrifice now will prosper when growth restarts. After the 2008 financial crisis, global regulators required banks to increase...

Tracking the $9 Trillion Global Fiscal Support to Fight COVID-19

By Bryn Battersby, W. Raphael Lam, and Elif Ture Governments have put forward swift and significant emergency lifelines to protect people in response to the pandemic. We measured these in the April 2020 Fiscal Monitor and as countries have stepped up their efforts, we have...

Dampening the impact of global financial shocks on emerging market economies

By Damiano Sandri The COVID-19 pandemic is impacting emerging markets through an unprecedented combination of domestic and external shocks. Among the latter, the pandemic has led to a sharp increase in global risk aversion and an abrupt retrenchment in foreign capital flows. Based on historical...

Making Economies More Resilient to Downturns

By John Bluedorn and Wenjie Chen The world is in the grip of the COVID-19 pandemic, and the ensuing Great Lockdown, has pushed many countries into deep recessions—worse than during the 2008–09 global financial crisis. In response, governments and central banks all over the world have...

Navigating Deglobalization

by Mohamed A. El-Erian Appeals to recommit to globalization are highly unlikely to gain traction in the wake of the COVID-19 pandemic. Those keen to preserve globalization would instead be better advised to focus on minimizing the disruption caused by the coming period of deglobalization...

Is COVID-19 Killing Democracy?

GUY VERHOFSTADT Global media are so consumed by the public-health and economic consequences of COVID-19 that they have failed to pay adequate attention to growing political and institutional risks. In fact, if we are not careful, the biggest casualty of COVID-19 could be democracy. BRUSSELS –...

How global pandemics leave the poor even further behind

The COVID-19 crisis is now widely seen as the greatest economic calamity since the Great Depression. In January, the IMF expected global income to grow 3 percent; it is now forecast to fall 3 percent, much worse than during the Great Recession of 2008-09....

How Pandemics Leave the Poor Even Farther Behind

By Davide Furceri, Prakash Loungani, Jonathan D. Ostry The COVID-19 crisis is now widely seen as the greatest economic calamity since the Great Depression. In January, the IMF expected global income to grow 3 percent; it is now forecast to fall 3 percent, much worse than...
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