Global Debt Reaches a Record $226 Trillion
Policymakers must strike the right balance in the face of high debt and rising inflation.
A Future with High Public Debt: Low-for-Long Is Not Low Forever
By Marcos Chamon and Jonathan D. Ostry
Many countries are experiencing a combination of high public debt and low interest rates. This was already the case in advanced economies even prior to the pandemic but has become even starker in its aftermath. […]
Europe Needs to Maintain Strong Policy Support to Sustain the Recovery
The pandemic is exacting a heavy toll on Europe. More than 240,000 people have lost their lives. Millions have suffered the illness themselves, the loss of loved ones, or major disruption in their work, their businesses, and their daily lives. […]
A Bridge to Economic Recovery: Be Aware of Financial Stability Risks
COVID-19 Response in Emerging Market Economies: Conventional Policies and Beyond
By Martin Mühleisen, Tryggvi Gudmundsson, and Hélène Poirson Ward
عربي, 中文, Español, Français, 日本語, Português, Русский
The economic impact of the COVID-19 pandemic on emerging market economies far exceeded that of the global financial crisis. Unlike previous crises, the response has been decisive just like in advanced economies. […]
Chart of the WeekUnemployment in Today’s Recession Compared to the Global Financial Crisis
There has been much discussion in recent months about how workers who transitioned to working from home—and those who were deemed “essential”—are less affected by the layoffs and job losses brought on by lockdowns than are workers in “social” jobs that require closer human interaction, like restaurant workers. […]
Courage under Fire: Policy Responses in Emerging Market and Developing Economies to the COVID-19 Pandemic
Martin Mühleisen, Vladimir Klyuev, Sarah Sanya
عربي, 中文, Español, Français, 日本語, Português, Русский
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. […]