Reopening from the Great Lockdown: Uneven and Uncertain Recovery

2020-06-25T09:17:07-05:00June 24, 2020|

By Gita Gopinath

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The COVID-19 pandemic pushed economies into a Great Lockdown, which helped contain the virus and save lives, but also triggered the worst recession since the Great Depression. Over 75 percent of countries are now reopening at the same time as the pandemic is intensifying in many emerging market and developing economies. (more…)

Combating COVID-19: How Should Banking Supervisors Respond?

2020-06-16T16:15:05-05:00June 15, 2020|

By Tobias Adrian  and Ceyla Pazarbasioglu

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The massive macro-financial shock caused by the pandemic continues to ravage the global economy and has put both banks and borrowers under severe strain. Supervisors find themselves confronted with unprecedented challenges which call for decisive action to ensure that banking systems support the real economy while preserving financial stability. This blog introduces nine joint IMF-World Bank recommendations to help supervisors navigate these uncharted waters and calls for vigilance regarding policy measures taken that are not consistent with international standards. This is critical to prevent the health and economic crisis morphing into a financial crisis. (more…)

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