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Richard Kozul-Wright

Articles by Richard Kozul-Wright

From a troubled horizon to a better world?

December 7, 2020

The Covid-19 crisis is deepening existing fissures and adding new threats to an already scarred and anxious world. As a localized health crisis became a global pandemic, many countries put broad swathes of their economies into a policy induced coma to halt the spread of the virus and ease the burden on overstretched health systems. As a result, the global economy will experience a recession this year on a scale not experienced since the 1930s. The damage will be both lasting and severe, particularly in developing countries where fiscal space is being compressed under a mountain of unsustainable debt, the room for monetary policy is restricted by external constraints and the extent of the informal economy limits opportunities for inclusive growth.
The world economy was already vulnerable

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