To fight the Covid-19 pandemic, best practice responses in Africa need to be implemented around international collaboration. These include the need to activate emergency operations centres, to establish a surge capacity in health systems, and to mitigate the economic and social consequences of the pandemic.
We had not seen a common challenge as clear as this pandemic. The sum of national actions and programs is likely to be insufficient.
At this online podcast recording, Guntram Wolff and Barry Eichengreen will discuss the impact of the COVID-19 crisis on emerging economies and the corresponding policy responses.
Policymakers need to think long-term and start planning a broad investment scheme to reboot the European economy.
It is time for the EU Council to make quick progress on the fiscal front and announce something as soon as possible to show that it taken full measure of the severity of the situation.
This paper shows how the Macroeconomic Imbalances Procedure (MIP) could be streamlined and its underlying conceptual framework clarified. Implementation of the country-specific recommendations is low; their internal consistency is sometimes missing; despite past reforms, the MIP remains largely a countryby-country approach running the risk of aggravating the deflationary bias in the euro area. We recommend to streamline the scoreboard around a few meaningful indicators, involve national macro-prudential and productivity councils, better connect the various recommendations, simplify the language and further involve the Commission into national policy discussions. This document was prepared for the Economic Governance Support Unit at the request of the ECON Committee.