Most developing markets took a significant economic hit during the pandemic, while many traditional channels of lending have tightened. In this light, special drawing rights (SDRs) are emerging as an important tool available to governments to fund their Covid-19 responses and recoveries.
As a result of the economic fallout of Covid-19, emerging economies across the world are grappling with numerous challenges, including cash flow crises, the risk of prolonged recession and debt default. Many are looking towards development banks to help get their sustainable recoveries under way.
The coronavirus pandemic has raised awareness among GCC countries of the importance of environmental, social and governance (ESG) standards. If current trends continue, then ESG could become a valuable element of the region’s recovery from Covid-19.
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