Tag "coronavirus"
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A Famine of ‘Biblical Proportion’
The worst humanitarian crisis since the end of World War II. That is how World Food Programme (WFP) Executive Director David Beasley described the impact of the corona pandemic on vulnerable people in countries suffering war and drought. According to
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Optimism in the Face of Disaster
Xavier Becerra Don’t apply for benefits, ask for a job. US unemployment centres are now hiring. In a single month, a virus invisible to the naked eye has wiped out a decade’s worth of job creation. In April, more than
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A Troubling Edict from Karlsruhe
The European Union is facing the sharpest contraction of economic output since its founding in 1957. This year, the EU’s GDP is set to shrink by 7.4 percent. The steepest declines occur along the northern rim of the Mediterranean in
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Private Equity Takes Care of Its Own
The creativity displayed by private equity fund managers when snapping up companies and squeezing out profits has apparently evaporated into thin air. The industry claims to have no clue how to help the companies sitting on its books. Most of
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Schalke 04 Fighting for Its Life and Soul
Ausgliederung. What wrecked the deep emotional bond between British football fans and their club is now coming to Germany: The privatisation of the beautiful game. Diehard supporters would probably prefer to describe the trend as a ‘corporate sell-out’ that changed
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When Even Warren Buffett Is Clueless
You can bet on America, says Warren Buffett, before admitting that even he does not know what comes next. The phrase that defined this years’ Berkshire Hathaway shareholder meeting was ‘I don’t know’. One of the world’s wealthiest self-made men
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Sell in May and Go Away
First the good news: The S&P 500 just finished its best month since January 1987 with a gain of 12.7 percent in April. Now for the bad news: The bellwether index is still some 16 percent down from the all-time
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The Primacy of Politics Returns
A celebrated political economist who received fifteen years of fame for identifying the housing bubble and predicting banking crisis of 2008-9 now seems to have lost hope. In a recent article, Nouriel Roubini presents ten reasons why he thinks the
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European Commission Warns Banks
There is money in the bank – and that is where it mostly stays. The credit facilities that are meant to help households and businesses finically survive the pandemic are being approved at an alarmingly relaxed rate by banks struggling
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Otaviano Canuto: Channels of Transmission of Coronavirus to Developing Economies from Abroad
In a previous article, we highlighted how developing economies have faced simultaneous shocks from their external environment, as pandemic and recession curves have unfolded abroad (Canuto, 2020a). In addition to financial shocks, there have been declines in remittances, tourism receipts, and commodity
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