Publications /
Policy Brief

Back
Download PDF
Covid-19, Quelles Répercussions pour les Pays en Développement ?
Authors
Hamza Saoudi
April 3, 2020
Related topics: 
Economy
Macroeconomics and regulation

La crise engendrée par le COVID-19 a bouleversé l’ordre de l’économie mondiale. Elle montre à quel point les économies sont très interdépendantes, vulnérables et ne sont pas préparées à faire face à un choc sanitaire de cette ampleur. Même les pays développés et les grandes puissances économiques mondiales en ont été très négativement impactés. Cependant, l’impact de cette pandémie est à géométrie variable et son issue dépendra de la capacité des Etats à réagir et à y faire face le plus tôt possible. Ce qu’il faut souligner c’est que certains pays en développement, en particulier les pays pauvres, n’ont pas suffisamment de marge de manoeuvre et de capacité budgétaire pour faire face à une propagation aigue de ce virus et ne peuvent pas supporter des pressions croissantes sur de longues périodes sur leurs systèmes de santé qui sont déjà très fragiles, voire rudimentaires dans certains cas. Il est très important pour ces pays, qui ne sont pas encore très impactés par cette pandémie, de prendre des mesures urgentes. Une intervention et un appui supplémentaires de la communauté internationale sont cruciaux.

RELATED CONTENT

  • Download PDF
    GVCs, Resilience, and Efficiency Considerations: Improving Trade and Industrial Policy Design and Coordination
    Authors
    Otaviano Canuto
    Mahmoud Arbouch
    Pepe Zhang
    Abdelaaziz Ait Ali
    June 26, 2023
    The COVID-19 pandemic and the war in Ukraine have reignited the debate on efficiency versus resilience in international trade and global value chains (GVCs). This policy brief[a] (i) explains the contrasting perspectives of the private sector (primarily seeking efficiency) and the public sector (aiming for resilience); (ii) demonstrates that GVCs are still flourishing, despite some mounting signals of a geo-fragmentation leading to greater reallocation of the GVCs; and (iii) provide ...
  • External Debt Management in Africa: A Proposal for a ‘Debt Relief for Climate Initiative’
    Authors
    Otaviano Canuto
    Hinh T. Dinh
    Karim El Aynaoui
    Hafez Ghanem
    Badr Mandri
    June 20, 2023
    This policy brief was originally published on T20 India website   A decade of poor growth, increased poverty, and political instability followed the serious debt difficulties that emerged worldwide in the 1980s. There are concerns that the looming debt crisis could create similar challenges and result in even more severe consequences. However, the current economic climate differs in many ways from that of the 1980s, when international banks and Paris Club creditors held most of th ...
  • Download PDF
    The U.S. Banking Crisis of 2023 and Its Implications for Africa
    Authors
    Hinh T. Dinh
    June 1, 2023
    This Policy Brief examines the current banking crisis in the United States and its implications for Africa. Many studies have pointed out the main factors responsible for this crisis, including poor risk-management practices in the failed banks, the sector’s weak regulatory structure, and the failure of bank supervisors. However, a key factor that has contributed to the extent and speed of the crisis is the U.S. Federal Reserve’s (Fed) policy actions, including the elimination of re ...
  • Download PDF
    The Current Banking Crisis and U.S. Monetary Policy
    Authors
    Hinh T. Dinh
    May 22, 2023
    The current banking crisis in the United States began with the Silicon Valley Bank (SVB) run in March 2023 and was followed by other bank failures, raising concerns about the health and stability of the financial sector. This Policy Paper traces the root causes of these bank failures and examines the U.S. monetary policy decisions during this period. These bank failures were caused by the poor risk management practices of the failed banks, the sector’s weak regulatory structure, and ...
  • An “Unthinkable” U.S. Public Debt Default
    Authors
    Otaviano Canuto
    May 19, 2023
    Earlier this month, U.S. Treasury Secretary Janet Yellen told congressional leaders that the government could run out of cash as early as June 1, if the debt ceiling is not raised in time. In January, the Treasury reached the current legally established ceiling in nominal terms ($31.46 trillion). The funds currently available to make government payment flows tend to exhaust by the end of this month. According to the Treasury Department: “Failing to increase the debt limit would ha ...
  • Lutter contre l’inflation et renforcer la résilience : quelles perspectives pour la région MENA ?
    Authors
    Oumayma Bourhriba
    May 18, 2023
    Le Policy Center for the New South (PCNS) et le Fonds Monétaire International (FMI) ont organisé, le 28 avril, à Rabat, une table ronde d'experts sur le thème "Fighting Inflation and Building Resilience : the Outlook for MENA and Morocco". Au niveau international, la lutte contre l’inflation constitue la principale préoccupation des politiques économiques dans la majorité des pays. La détection des risques inflationnistes a pris du retard après la crise sanitaire parce que les aut ...
  • Download PDF
    Inflation targeting and public debt reduction for emerging countries: a treatment effect approach
    Authors
    Mahmoud Arbouch
    May 11, 2023
    This paper aims to investigate the impact of an inflation targeting framework adoption by the central bank, on the reduction of public debt ratios in emerging countries, through the potential discipline-enhancing effect of inflation targeting on the conduct of fiscal policy in general. The impact evaluation method used is the Propensity Score Matching (PSM), which allows the evaluation of the treatment effect of inflation targeting on fiscal discipline, in terms of public debt reduc ...
  • Download PDF
    The U.S. dollar’s “exorbitant privilege” remains
    Authors
    Otaviano Canuto
    April 27, 2023
    Recent initiatives and policy moves by China and other countries to extend the reach of use of the renminbi in the international monetary system, while the U.S. dollar share in global reserves has slightly shrunk in relative terms, have sparked frequent discussions about a hypothetical “de-dollarization” of the global economy. We approach here what that would mean in terms of global currency functions as means of payment and store of value. While we point out a relative decline of ...
  • Views on the Evolution of Moroccan Public Debt Sustainability
    Authors
    Youssef El Jai
    April 5, 2023
    The Policy Center for the New South and the Economic Research Forum held on March 20 a workshop titled ‘Stabilization and adjustment towards inclusive and sustainable policies in MENA: The Moroccan case study’. The event took place at the PCNS headquarters in Rabat, Morocco. It brought together renowned Moroccan economists and scholars to discuss the issue of public debt sustainability in the context of the Moroccan economy. It was an occasion to revisit the main features of the Mor ...