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Tag Archives: resilience

Chart of the WeekThe Crisis is Not Over, Keep Spending (Wisely)

By Oya Celasun, Lone Christiansen, and Margaux MacDonald The pandemic-induced economic crisis is set to leave deep scars. Human capital erosion from prolonged high unemployment and school closures, value destruction from bankruptcies, and constraints on future fiscal policy from elevated public debt top the list. Groups that were already poor and vulnerable are set to see the largest setbacks. Swift and unprecedented action by policymakers, including among the Group of Twenty (G20) advanced...

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Charting a Path for a Resilient Recovery in Sub Saharan Africa

By Kristalina Georgieva and Abebe Aemro Selassie Perhaps first among the many lessons of 2020 is that the notion of so‑called black swan events is not some remote worry. These purportedly once‑in‑a‑generation events are occurring with increasing frequency. Take climate‑related shocks, especially in sub‑Saharan Africa. More than any other region, it is vulnerable to these events because of its heavy dependence on rain‑fed agriculture and its limited ability to adapt to shocks. Every year, the...

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Healing the Fractures of the Global Economy

Gita Bhatt As the world seeks to comprehend the new normal, we face many unknowns. Will jobs come back? How will we travel again? What will recovery look like? Much is still a question mark. In fact, we are living in the most “unmeasurable of times,” writes the IMF’s Geoffrey Okamoto, making it hard to quantify high uncertainty and risk. What we do know is that the age of COVID-19 has painfully exposed and widened existing economic and social divisions and created new ones. It has...

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Estimating Cyber Risk for the Financial Sector

By Christine Lagarde June 22, 2018 Versions in  عربي,  中文,  Français , Русский  Average annual losses to financial institutions from cyber-attacks could reach a few hundred billion dollars a year (photo: Eti Ammos/iStock by Getty Images) Cyber risk has emerged as a significant threat to the financial system. An IMF staff modeling exercise estimates that average annual losses to financial institutions from cyber-attacks could reach a few hundred billion dollars a year, eroding bank...

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What We Have Seen and Learned 20 Years After the Asian Financial Crisis

By Mitsuhiro Furusawa July 13, 2017 Versions in 中文 (Chinese), Русский (Russian), and Español (Spanish) A trader in Seoul, South Korea: Asia is the largest contributor to global growth (photo: Ryu Seung-il/Polaris/Newscom) Asia today is the fastest-growing region in the world, and the largest contributor to global growth. It has six members of the Group of Twenty advanced and emerging economies, and its economic and social achievements are well recognized. But 20 years ago, July 1997...

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