Developing Countries Struggling To Cope With COVID-19

The ongoing COVID-19 pandemic is adversely impacting most developing countries disproportionately, especially the United Nations’ least developed countries (LDCs) and the World Bank’s low-income countries (LICs). Years of implementing neoliberal policy conditionalities and advice have made most developing countries much more vulnerable to the COVID-19 pandemic by undermining their health systems and fiscal capacities to respond adequately.

IP, Vaccine Imperialism Cause Death and Suffering, Delay Recovery

Vaccine developers’ refusal to share publicly funded vaccine research findings is stalling broader, affordable vaccinations which would more rapidly contain COVID-19 contagion. The pandemic had infected at least 109 million people worldwide, causing over 2.4 million deaths as of mid-February.

A Grey Cloud Over Lebanon: Mental Health Burdens

Humankind is no stranger to the destabilizing events of 2020. The state of the global economy and the outbreak of the COVID-19 pandemic hit the headlines. In this ever escalating global crisis, Lebanon, has been facing what can only be described as unimaginable hardships. For the past year the country has seen challenges which have resulted in an utter state of hopelessness and rapid deterioration in mental health of many of its citizens.

Nothing to Learn from East Asia?

Covid-19 infection and death rates in the Western world and many developing countries in Asia and Latin America have long overtaken East Asia since the second quarter of 2020. Perhaps unsurprisingly, considering prevailing Western accounts of the Asian financial crises, there have been no serious efforts to draw policy lessons from East Asian contagion containment.

TNCs Reviving TPP Frankenstein

The incoming Biden administration is under tremendous pressure to demonstrate better US economic management. Trade negotiations normally take years to conclude, if at all. Unsurprisingly, lobbyists are already urging the next US administration to quickly embrace and deliver a new version of the Trans-Pacific Partnership (TPP).

Shifting Conversations in Multifaceted Policymaking

As the people of Kiribati, Samoa and Tonga gear up as the first nations to welcome 2021, communities around the Asia-Pacific region and beyond look forward to bidding farewell to the most tumultuous year in recent decades.

2021: Year of Living Dangerously?

Goodbye 2020, but unfortunately, not good riddance, as we all have to live with its legacy. It has been a disastrous year for much of the world for various reasons, Elizabeth II’s annus horribilis. The crisis has exposed previously unacknowledged realities, including frailties and vulnerabilities.

Reflecting Back and Imagining Forward

What a challenging year 2020 has been! A year of living dangerously – “Tahun vivere pericoloso”- perhaps these words of late President Soekarno of Indonesia are the best description. Fortunately, I managed to remain sane, reading and writing op-eds (mostly about the pandemic, here, here).

2020: A Yet More Devastating Year Closes With At Least Some Signs Of Hope

Despite its grim record of multiple natural disasters and a deepening climate crisis, one could be forgiven for looking back on 2019 with a degree of nostalgia. There is no disguising the extent of the calamity wrought this year by COVID-19, yet as we approach the end of 2020 we may also draw strength from positive developments emerging.

The World in 2021

The year 2020 is ending with the world caught up in an unprecedented human and economic crisis. The pandemic has contaminated 75 million people and killed 1.7 million. With the lockdowns, the global economy has suffered the worst recession in 75 years, causing the loss of income for millions of people. In such a bleak environment, what will the new year bring? Whilst uncertainty is the only certainty, eight points are likely to be key in the year ahead:

The Impact of COVID-19 on Child Marriage and Other Gender-Based Violence

I recently visited rural areas of Bangladesh amid the COVID-19 pandemic and returned to Dhaka with a new understanding of the impact that COVID-19 is having on child marriage, a harmful practice that is a global challenge. The fundamental shift that I saw was that child marriage, which has typically been encouraged by struggling parents, is now being encouraged by struggling girls. This worrisome trend underscores a new burden of the pandemic on the poor.

Getting Children in Lebanon Back to School Amongst Multiple Crises

Education and health care were high on the agenda when the United Nations vowed to work toward a better future by setting 17 Sustainable Development Goals (SDGs) to be met by 2030.

Urgently Needed Deficit Financing No Excuse for More Fiscal Abuse

Fiscal and monetary measures needed to fight the economic downturn, largely due to COVID-19 policy responses, require more government accountability and discipline to minimise abuse. Such measures should ensure relief for the vulnerable, prevent recessions from becoming depressions, and restore progress.

Will the New Fiscal Crises Improve International Tax Cooperation?

COVID-19 recessions have hit most countries, requiring massive fiscal responses. While most developing countries struggled with mounting debt even before the pandemic, many developed countries also face unprecedented macroeconomic pressures despite earlier spending cuts due to ‘fiscal consolidation’ policies.

World Bank Urges Governments to Guarantee Private Profits

The World Bank has been leading other multilateral development banks (MDBs) and international financial institutions to press developing country governments to ‘de-risk’ infrastructure and other private, especially foreign investments.

Is Development for the World Bank Mainly Doing Business?

The World Bank has finally given up defending its controversial, but influential Doing Business Report (DBR). In August, the Bank “paused” publication of the DBR due to a “number of irregularities” after its much criticized ranking system was exposed as fraudulent.

Is the IMF Encouraging World Financial Leaders to Walk Blindly Towards More Austerity?

This week the world’s Ministers of Finance and Central Bank Governors meet virtually at the 2020 Annual Meetings of the International Monetary Fund and the World Bank and decide on the fate of the world. This year’s gathering is particularly important, given that the world is confronting an unprecedented crisis. Governments are struggling to finance emergency care and urgent socioeconomic support to cope with the COVID19 pandemic.

Milton Friedman Versus Stakeholder Capitalism

Milton Friedman was arguably the most influential economist of the second half of the 20th century, associated with promoting ‘neo-liberal’, free-market, shareholder capitalism. Friedman’s monetarist economics is now widely considered irrelevant, if not wrong, especially with the low inflation associated with ‘unconventional’ monetary policies following the 2008-2009 global financial crisis.

Scaling Up SDG4 in Crises

Out of global crises spring opportunities for change. In crisis, change is not an option. It is a necessity. And, as Plato famously noted: “Necessity is the mother of invention.” Education Cannot Wait (ECW) is an invention that sprang out of crisis and was borne of necessity.

The Triple Humanitarian Crisis and Why Kenya Deserves An A + in its Response

The United Nations Deputy Secretary General, Ms Amina Mohammed recently commended “Kenya’s exemplary role in its response to COVID-19 and in advancing Agenda 2030”.