Stories written by Anis Chowdhury

Multilateral Bank Intermediation Must Help Developing Countries’ Recovery

International Monetary Fund (IMF) Managing Director Kristalina Georgieva has warned that developing countries would need more than the earlier estimated US$2.5 trillion to provide relief to affected families and businesses and expedite economic recovery.

Fight Pandemic, Not Windmills of the Mind

With uneven progress in containing contagion, worsened by the breakdown in multilateral cooperation due to mounting US-China tensions, recovery from the Covid-19 recessions of the first half of 2020 is now expected to be more gradual than previously forecast. Pandemic response measures In the face of the Covid-19 pandemic, many governments, especially of Organization for Economic Cooperation and Development (OECD) economies, have introduced massive fiscal and monetary packages for contagion containment, relief and recovery.

Covid-19 Compounds Developing Country Debt Burdens

Covid-19 is expected to take a heavy human and economic toll on developing countries, not only because of contagion in the face of weak health systems, but also containment measures which have precipitated recessions, destroying and diminishing the livelihoods of many.

Covid-19 Cannot Be Defeated by a Divided World

Announcing an independent evaluation of the global Covid-19 response on 9th July, World Health Organization (WHO) Director-General Dr Tedros Adhanom Ghebreyesus asked why it has been “difficult for humans to unite and fight a common enemy that is killing people indiscriminately?”.

Can Private Finance Really Serve Humanity?

The recent explosion of private finance has nursed the hope, dream or illusion that it can be mobilized for the public good, e.g., to achieve the Sustainable Development Goals, associated with Agenda 2030. However, such hopes ignore how changes in financial investing have deeply transformed corporations, national economies and prospects for the world economy and social progress.

Donald Trump, Working Class Hero?

In his early February annual State of the Union address, US President Donald Trump typically hailed his own policies for increasing wages and jobs to achieve record low US unemployment. Directly appealing to labour for a second term, Trump claimed exclusive credit for the US “blue-collar boom”.

Are We Going from San Francisco?

Seventy-five years ago, on 26 June 1945, before the Japanese surrender ending the Second World War, fifty nations gathered at San Francisco’s Opera House to sign the United Nations (UN) Charter.

Racism, Shitholes and Re-election

Over the course of his presidency, US President Donald Trump’s racism has become more evident with more leaks of his private remarks, which he has been generally quick to deny, qualify and explain away.

Reviving the Economy, Creating the ‘new Normal’

The Covid-19 pandemic has significantly impacted most economies in the world. Its full impacts will not be felt, let alone measured, until it runs its course. Many countries are still struggling to contain contagion, while the costs on both lives and livelihoods will undoubtedly have long-term repercussions.

This Year of Living Dangerously

Indonesia’s founding President Sukarno delivered his annual Independence or National Day address on 17 August 1964 anticipating the forthcoming year as Tahun vivere pericoloso, the ‘year of living dangerously’. 2020 may well be the world’s turn, and not only due to the obvious Covid-19 threat to the world.

Politics, Profits Undermine Public Interest in Covid-19 Vaccine Race

With well over five million Covid-19 infections worldwide, and deaths exceeding 340,000, the race for an effective vaccine has accelerated since the SARS-Cov-2 virus was first identified as the culprit.

‘Passing the Buck’ Becomes Reckless ‘Conspiracy Blame Game’

Although Wuhan local authorities undoubtedly ostracized local medical whistle-blowers, notably Dr Li Wenliang, who suspected a new virus was responsible for flu-like infections in Wuhan in late 2019, official responses were apparently not delayed, and possibly even expedited, as the novel character of the SARS-CoV-2 virus, responsible for Covid-19 infections, was not immediately self-evident.

Argentina Responds Boldly to Coronavirus Crisis

Like much of the West, Argentina did not take many early precautionary actions after the Covid-19 epidemic was confirmed in January, but became the first Latin American country to act decisively with a 12 March public health emergency declaration. The presidential decree came a day after the World Health Organization (WHO) declared a global pandemic, just over a week after the first case was detected in the republic on 3 March.

All-of-Government, Whole-of-Society Involvement Needed to Fight Virus

The Covid-19 pandemic is now widely considered more threatening than any other recent viral epidemic. Most believe that many more have been infected or even died than officially confirmed.

Covid-19: Brazil’s Bolsonaro trumps Trump

Brazil’s President Jair Bolsonaro appointed medical entrepreneur Nelson Teich his new health minister on 17 April. The businessman quickly echoed his boss’ desire to resume business as usual regardless of its potentially lethal consequences.

Vietnam Winning New War Against Invisible Enemy

Vietnam, just south of coastal China, is the 15th most populous country in the world with 97 million people.According to its Ministry of Health (MoH), as of 13 April, there were 262 confirmed cases of COVID-19, with 144 recovering or discharged from hospitals, and no deaths.

Kerala Covid-19 Response Model for Emulation

Within weeks, the Covid-19 epidemic was classified by the World Health Organization (WHO) as an epidemic of international significance, triggering a pre-agreed WHO response. By the end of the first week of April, more than 1.3 million people had been confirmed as infected, with over 65,000 deaths across the world.

West First Policies Expose Myths

As the epicentre of the COVID-19 pandemic shifts from China to the developed West, all too many rich countries are acting selfishly, invoking the ‘national interest’, by banning exports of vital medical supplies.

Stronger UN Leadership Needed to Cope with Coronavirus Threat

The economic impact of the coronavirus pandemic is hard to predict as events are still unfolding, and estimates vary dramatically. UNCTAD estimates lost output in the order of US$1 trillion, just over a third of Bloomberg’s expectation of US$2.7 trillion in losses. The OECD expects global economic growth to halve from already anaemic levels.

Use Stimulus Packages for Longer Term Progress

The coronavirus pandemic seems to have finally forced governments around the world to ditch their obsession (at least for the moment) with delivering budget surplus. As stock markets tumble, stimulus measures, worth billions of dollars, are announced to boost investor confidence and consumer spending to keep economies running.

Coronavirus Exposes Global Economic Vulnerability

As the outbreak of the novel coronavirus COVID-19 threatens a global pandemic, major stock markets around the world have suffered their worst performance since the 2008 financial crush.

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