Virtually all countries in the world have responded to the COVID-19 crisis by implementing fiscal and monetary measures, significantly larger in relation to national output than those employed during the 2008 financial crisis. The magnitude of fiscal measures to counter the shock varies across developing and advanced economies.
CGD Policy Blogs
With the continuing spread in Africa, Asia, and Latin America, countries scramble to contain the fallout and ease the burden. Here’s a selection of recent coverage on the observed and expected economic impacts across the three continents.
In a webcast event hosted by CGD, Megan O’Donnell spoke with researchers, practitioners, and advocates to highlight and contextualize data on how this global crisis presents specific gendered risks, and how, in turn, a gender-sensitive response can help us tackle new and worsening inequalities
With so much uncertainty around COVID-19, it helps to focus on decisions that no one will regret later on, that are right whether the crisis is short or long, the recession deep or shallow. These are “no-regret policies.”
Think tanks are supposed to float new ideas to make government work better. One such crazy idea that started with Ben Leo and me turned into the US International Development Finance Corporation (DFC). How did this possibly happen? And what might we learn from this experience?
Revisiting HIPC as Part of the COVID-19 Response: How did Commercial Debt Relief for Poorest Countries Work Last Time?
The G20 is calling on commercial creditors to follow their lead and extend a moratorium on their debt. But if past is precedent external commercial debt could be shaping up to be major fault line in the debt relief process moving forward.
Even in the best-resourced and highest-performing education systems, most COVID responses in education will end up by privileging better-off children. In developing countries, where far fewer children have access to secondary education, and where learning opportunities are heavily defined by quality education in the early years, COVID presents an especially stark equity challenge.
The coronavirus is spreading and for the first time in history virtually all people on earth are faced with the same, imminent common threat. With multifold stories of individual suffering and an unprecedented global lockdown, there is an intensifying call for an internationally coordinated response; it is in every country’s interest to think and act globally.
In recent years, many commentators have asked if the World Bank is still relevant. We’re about to find out. To track the World Bank’s response to COVID-19, we’ve built a small interactive tool to display how much each country has received to date, and what’s currently in the pipeline for approval.
If we want to make sure everyone can get quality products without financial burden, here’s why we think value-based pricing and competitive markets beat the “fair pricing” approach.