IAN Week in Review: Coming out of lockdown
As economic data releases show the extent of the unparalled recession which results from the lockdown, many countries are now preparing for a gradual reopening of the economy, varying in speed and sectors. What seems to be clear is that restoring normality will take longer than expected. In Europe, talks about a recovery fund continued, with Ursula Van der Leyen suggesting it to be linked to the multi-annual financial framework, which remains to be approved after 18 months of discussions. While the delay offers an opportunity to reorient it to this new challenge, the lack of sucess so far in approving one of the pillars of EU policy is not a particularly good omen for coming talks. This and other funding optoins ar likely to be discussed on 23rd April, when EU leaders meet.
The World Bank will pay out $132.5m to poor nations fighting the pandemic under a scheme started in 2018, with the issuance of two bonds taken by donor countries, which pay interest until certain pandemic criteria are met, at which point the interest is used to fund aid in poor countries.
International press review:
Henry Paulson: Save globalisation to secure the future
