Decisive policymaking crucial for economic resilience

WITH the spread of Covid-19 having slowed in recent months, the focus of policymakers and markets has started to shift from the immediate needs of the health crisis towards the economy. Across both developed and emerging markets we are seeing containment, albeit with uneven progress, and economies globally are starting to reopen.

There is no clear template that any country can follow in dealing with this crisis, but several factors have been shown to successfully drive containment. As we look to 2021 and beyond, decisive policymaking paired with effective execution have been crucial, alongside social cohesion and economic resilience.

The crisis has highlighted the strengths of emerging markets, whether in terms of their social, governance and healthcare systems, or the fiscal and corporate reforms they have undertaken over the last two decades. Robust balance sheets across emerging markets have proven to be a source of resilience, and we believe that will continue.