What the Future Holds: COVID-19 and the Global Economy

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What the Future Holds: COVID-19 and the Global Economy

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Torie Smith

First, according to the latest edition of the Global Economic Prospects (GEP) report, the COVID-19 pandemic has plunged the global economy into its deepest recession since WWII. More information on the GEP can be found here: www.worldbank.org/gep
Wed, 07/22/2020 - 11:03
Nirmalan Dhas

The Pandemic was anticipated. Yet not a single government had trained contact tracers and quarantine facilities and processes ready to respond with. The lock down showed that no government had plans to provide those residing on the territories of the nation states that they governed with food and medicine. Post Pandemic it is very clear that the re constitution of states, such that they are responsible to ensure that their governments provide free access to unpolluted air and water and nutritious food followed progressively by free access to the following resilient and sustainable social support and species survival systems and supply chains (R7SC):1.Power Generation Systems2.Communication Systems,3.Food & Agricultural Systems4.Waste Recycling Systems5.Manufacturing and Transport systems,6.Social Support Systems,7.Training, Education and Research Systems,8.Health Systems,9.Surgical and Medical Systems10.Planetary Guidance Systems.This will have to be followed by the generation of global processes of environmental repair, rehabilitation, regeneration and development (GP3RD)…along with a shit from meaningless and ever accelerating consumption to the conservation of resources and their dedication to the perceivable potential to 1. The spread of life generating matter and engineered life forms throughout the cosmos.2. The maintenance of dynamic equilibrium within planetary processes.3. The increase of perceptual capacities of the species.4. The increase of strategic competence of the species. 5. The transcendence of gender and other divisions and the generation of cosmic identity at the level of individual Homo sapiensIs the International Bank for Reconstruction and Development prepared to help the species Build Back Better in ways that make it possible to meet these requirements and realize this potential ?
Wed, 07/22/2020 - 11:03
Torie Smith

Ceyla also highlights the fact that the COVID crisis has come at a time when many emerging market and developing economies (EMDEs) already held record-high levels of debt. Our Global Waves of Debt report contains more information on recent—and historic—debt accumulation: www.worldbank.org/wavesofdebt  
Wed, 07/22/2020 - 11:04
Torie Smith

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Wed, 07/22/2020 - 11:05
Anonymous

Would Revenues collected by the Governments and their borrowings will suffice to match with the additional resources required? Can Public-Private Partnership provide the fillip in meeting a part of infrastructure gap to pump prime the economy while government resources are used in health, social protection, education and other pure government expenditures?
Wed, 07/22/2020 - 11:06

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