Industry Opinions

Emerging Markets’ Hidden Debt Risk

By Mitali Das, Şebnem Kalemli-Özcan, Damien Puy, and Liliana Varela  WASHINGTON, DC/LONDON – Stark warnings about the COVID-19 shock’s potentially devastating effects on emerging markets (EMs) have become ubiquitous. With the pandemic engulfing ever more countries, EMs face a mass exit by foreign investors seeking safe assets. As a result, capital outflows and currency depreciations […]

Insights Opinions

The Big Failure of Small Government

By Mariana Mazzucato and Giulio Quaggiotto  LONDON – Decades of privatization, outsourcing, and budget cuts in the name of “efficiency” have significantly hampered many governments’ responses to the COVID-19 crisis. At the same time, successful responses by other governments have shown that investments in core public-sector capabilities make all the difference in times of emergency. […]

Industry Opinions

Killer Corruption

By John Prendergast WASHINGTON, DC – COVID-19 is a ticking time bomb in Africa. Some of the risks are widely documented. Health-care systems are weak and overburdened, with ten African countries reportedly having no ventilators at all. Food supplies are unstable, and have already suffered major disruptions. And over 18 million people are refugees or […]

Leisure Opinions

Nature Is Our Best Antiviral

By Enric Sala WASHINGTON, DC – The Seychelles, a string of 115 verdant, rocky islands in the Indian Ocean, recently announced – in the midst of the coronavirus pandemic – that it would protect 30% of its glittering turquoise waters from commercial use. Safeguarding some 410,000 square kilometers (158,000 square miles) of the sea will […]