AD 2021: Economic Recovery and the Great Reset

November 15, 2021

The Covid-19 pandemic has plunged the world into a health, social and economic crisis of exceptional magnitude. In economic terms, the restrictions established to contain the spread of the virus have resulted in a sudden stop to entire sectors of activity and major disruptions to supply chains. Consequently, the global economy experienced its worst recession since World War II in 2020, with a 3.3% contraction in real GDP, a sharp decline in trade and direct investment flows, in addition to massive job losses. As a result, the downward trend in poverty that began in the 1980s has been reversed and more than 100 million additional people have fallen back into extreme poverty. In this context, a number of questions seem relevant: What are the levers to act on for a quick and strong recovery for the world economy? What place for human development in the post-Covid development strategies? How to conciliate between ambitious development objectives and budget sustainability? Moderator: Otaviano Canuto, Senior Fellow, Policy Center for the New South Speakers: - Maria Eugenia Brizuela de Avila, Former Minister of Foreign Affairs, El Salvador - Harinder Kohli, President and CEO, Centennial Group, USA - Frannie Leautier, Chairperson, Co-Founding Partner, Mkoba Private Equity Fund, Tanzania

Speakers
Otaviano Canuto
Senior Fellow
Senior Fellow at the Policy Center for the New South, Affiliate Professor at Mohammed VI Polytechnic University and Non-Resident Senior Fellow at Brookings Institute. Former Vice President and Executive Director at the World Bank, Executive Director at the International Monetary Fund (IMF) and Vice President at the Inter-American Development Bank. ...
Harinder Kohli
Founding Director and Chief Executive, Emerging Markets Forum (EMF)
...

RELATED CONTENT

  • September 14, 2021
    The major announcement of December 21, 2019, of the shift from the CFA franc to the Eco led to major changes in the monetary landscape and institutional setting of the West African states. This paper analyzes the benefits and challenges for economic and monetary cooperation in West Africa of this new development. While this new initiative has many advantages, establishing a new currency at the West African region, as a whole faces unresolved issues that may compromise its success. T ...
  • September 10, 2021
    The COVID-19 pandemic caused a shock to both demand and supply, leading to the biggest collapse in world output since the Great Depression. Since late 2020, a more rapid than expected recovery has been observed. Five questions arise frequently. Here is my take on those questions. 1- Is the pandemic receding? No, but we have a vaccine to control it, and are better at managing it with selective measures, as distinct from total lockdowns, which kill the economy. The global number of ...
  • September 10, 2021
    Le bilan des relations Europe/Méditerranée et Europe/Afrique invite aujourd’hui à un renouveau de ces partenariats. Un renouveau car il y a retrait partiel de l’Europe en ce qui concerne les questions de développement du voisinage Méditerranée-Afrique dans un temps où les partenariats actuels [de Barcelone et celui de Cotonou] s’emboitent dans la logique du commerce (libre-échange) et de l’aide financière. Le renouveau du partenariat Euro-méditerranée-Afrique devrait s’inscrire dans ...
  • Authors
    September 8, 2021
    We explore whether improved export sophistication increases women’s participation in wage employment. Using panel data from a large group of developing and emerging economies, and Fixed-effects and Generalized Method of Moments (GMM) estimators, we find that export sophistication has significant and mostly positive effects on women’s participation in paid employment in all regions, but these effects are nonlinear, since they become positive only after a threshold level of sophistica ...
  • September 6, 2021
    L’Union européenne (UE) a annoncé le 14 juillet une proposition de taxe carbone à ses frontières, qui devrait renchérir les importations de produits fortement émetteurs (acier, aluminium, ciment, électricité et engrais). Cette même taxe est déjà appliquée au sein de l’UE, qui veut désormais l’imposer aux fabricants étrangers. En soi, le projet part d’une bonne intention. Il n’est pas motivé par le protectionnisme, mais par des préoccupations climatiques on ne peut plus justiíées. S ...
  • September 1, 2021
    The world woke on Monday August 23 to higher international reserves for all countries. A new allocation of US$650 billion in Special Drawing Rights (SDRs) from the International Monetary Fund (IMF) to its member countries had entered into force (SDR450 billion). SDRs are an international reserve asset created by the IMF and added to countries' other foreign reserves. It is not a currency that can be used by private agents. Governments, on the other hand, can unconditionality exchan ...
  • August 24, 2021
    تجدون أقوى لحظات حديث الثلاثاء حول المواضيع الاقتصادية لهذه السنة : رؤى استشرافية لما بعد الجائحة، الاقتصاد غير المهيكل، دور القطاع الثالث، المغرب وسلاسل القيمة الاقليمية مع خبراء وباحثين اقتصادين ...
  • August 24, 2021
    تجدون أقوى لحظات حديث الثلاثاء حول المواضيع الاقتصادية لهذه السنة : رؤى استشرافية لما بعد الجائحة، الاقتصاد غير المهيكل، دور القطاع الثالث، المغرب وسلاسل القيمة الاقليمية مع خبراء وباحثين اقتصادين. ...
  • Authors
    August 12, 2021
    Macroeconomic dynamics in the U.S. economy has increasingly become associated with asset price fluctuations in the past few decades. Financial conditions have increasingly become an influential factor shaping the cyclical pace of the macroeconomy. There has been a mismatch between rising financial wealth and the pace of creation and incorporation of new assets. Several secular stagnation hypotheses offer explanations for the insufficient creation of new assets. Public debt—and its p ...