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How COVID-19 will Increase Inequality in Emerging Markets and Developing Economies
Despite the pre-pandemic gains in poverty reduction and lifespans, many of the EMDEs have struggled to reduce income inequality. At the same time, they saw persistently high shares of inactive youth (i.e., not…
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China and the Burgeoning African Debt Crisis
Contrary to the swirling rumors on African social media and in the local press about the supposed imminent danger of Chinese asset seizures in Zambia, it’s not the Chinese that are the problem…
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Is a Wave of Bankruptcies Heading for the Offshore Oil Industry?
Offshore drilling major Valaris became the latest victim of the crisis this week as it filed for bankruptcy in the U.S., proposing a swap of some $6.5 billion in debt that will see…
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Tourism Trauma and COVID-19
Pandemic-related lockdowns, flight cancellations, and border closures may be putting a crimp on summer vacation plans. However, the precipitous drop in tourism will have an outsized impact on countries that rely on foreign…
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How The Pandemic Is Making The Gender Pay Gap Worse
A new study finds that this recession is hitting women harder. Between February and April 2020, male unemployment increased 9.9 percent; female unemployment increased 12.8 percent. The pandemic has ravaged in-person service jobs…
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Corruption has Modernized, so Should Anti-Corruption Initiatives
By Jim Anderson / World Bank The World Bank’s commitment to helping countries control corruption dates to 1996 when then President James Wolfensohn made his “cancer of corruption” speech. It was the first…
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Impact of Conflict and Political Instability on Banking Crises in Developing Economies
A new IMF staff paper investigates whether rising conflict and political instability globally over the past several decades has led to more banking crises in developing countries. The study focuses on the potential…
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Dominant Currencies and the Limits of Exchange Rate Flexibility
Faced with an unprecedented shock of collapsing global demand and commodity prices, capital outflows, major supply chain disruptions and a generalized drop in global trade, many emerging markets and developing economies’ (EMDEs) currencies…
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Next Phase of the Crisis: Further Action Needed for a Resilient Recovery
When G20 finance ministers and central bank governors last met in April, the world was in the midst of the Great Lockdown forced by the outbreak of COVID-19. As they meet virtually this…
