The speed and magnitude of the coronavirus-induced sell-off which triggered in March was of historic proportion – no market was left unscathed.
Although the long-term fallout could be severe, emerging market (EM) countries were broadly in a relatively strong position on entering the coronavirus pandemic and their respective fiscal, monetary and financial responses represent signs of progress. Crisis lessons learnt A number of emerging market (EM) countries have clearly illustrated their improved resilience to the challenges of an economic crisis, highlighting the progress made since events in 1998 and 2008 that rocked the region. Higher foreign currency reserves and floating exchange rates provide buffers that enabled them ...
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