Pandemic Persistence Clouds Latin America and Caribbean Recovery

By Samuel Pienknagura, Jorge Roldós, and Alejandro Werner COVID-19 has hit Latin America and the Caribbean harder than other parts of the world, both in human and economic terms. The relatively large human toll is evident: with only 8.2 percent of the world population, the region had 28 percent of cases and 34 percent of […]

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Sub-Saharan Africa’s Difficult Road to Recovery

By Abebe Aemro Selassie Français The COVID-19 pandemic represents an unprecedented health and economic crisis for sub-Saharan Africa. Within months, the spread of the virus has jeopardized years of development and decades-long gains against poverty in the region while threatening the lives and livelihoods of millions of people. Policymakers in sub-Saharan Africa now face the […]

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A Long, Uneven and Uncertain Ascent

By Gita Gopinath The COVID-19 pandemic continues to spread with over 1 million lives tragically lost so far. Living with the novel coronavirus has been a challenge like no other, but the world is adapting. As a result of eased lockdowns and the rapid deployment of policy support at an unprecedented scale by central banks […]

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Monetary Policy for all? Inequality and the Conduct of Monetary Policy

By Niels-Jakob Hansen, Alessandro Lin, and Rui C. Mano Inequality in both advanced economies and emerging markets has been on the rise in recent decades. The COVID-19 pandemic has exacerbated and raised awareness of disparities between the rich and poor. Fiscal policies and structural reforms are long known to be powerful mitigators of inequality. But […]

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Teleworking is Not Working for the Poor, the Young, and the Women

By Mariya Brussevich, Era Dabla-Norris, and Salma Khalid The COVID-19 pandemic is devastating labor markets across the world. Tens of millions of workers lost their jobs, millions more out of the labor force altogether, and many occupations face an uncertain future. Social distancing measures threaten jobs requiring physical presence at the workplace or face-to-face interactions. […]

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Financial Conditions Have Eased, but Insolvencies Loom Large

By Tobias Adrian and Fabio Natalucci Amid the human tragedy and economic recession caused by the COVID-19 pandemic, the recent surge in risk appetite in financial markets has caught analysts’ attention. After sharp declines in February and March, equity markets have rallied back, in some cases to close to their January levels, while credit spreads have narrowed significantly, […]

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The Great Lockdown through a Global Lens

By Gita Gopinath The Great Lockdown is expected to play out in three phases, first as countries enter the lockdown, then as they exit, and finally as they escape the lockdown when there is a medical solution to the pandemic. Many countries are now in the second phase, as they reopen, with early signs of […]

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