Beyond grappling with the global public health crisis sparked by the COVID-19 pandemic, governments the world over are doing what they can to mitigate the economic fallout from lockdowns and social distancing. Already, the stock markets have witnessed the kind of downturn not seen in a generation. The Middle East was no exception. Even the…
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Since the start of the pandemic, financial institutions including the World Bank Group and the International Monetary Fund (IMF) – along with UN entities, regional organizations and country groups such as the G20 – have been examining the tools available to stabilize markets, prevent job losses and preserve hard-fought development gains. At a joint high-level…
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If you haven’t received your coronavirus stimulus check yet, there’s a chance you’ll get it in the form of a prepaid debit card rather than a check in the mail. The Treasury Department announced Monday that around 4 million people who do not have their direct deposit information on file with the IRS will receive…
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The U.S. economy is in recession. Take a look outside your window and this reality is plain to see. Businesses are closed, traffic is nonexistent. Efforts to contain the spread of the novel coronavirus have resulted in a forced stoppage of economic activity. First quarter GDP data published Wednesday confirmed this slowdown. Economic growth contracted…
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