The Great Lockdown The COVID-19 pandemic is inflicting high and rising human costs worldwide, and the necessary protection measures are severely impacting economic activity. As a result of the pandemic, the global economy is projected to contract sharply by –3 percent in 2020, much worse than during the 2008–09 financial crisis. In a baseline scenario--which assumes that the p
Read MoreIf Kadhimi’s nomination goes through, it would be good news for Iraq, but Washington’s troubled relationship with Baghdad still needs a radical strategic reset. On April 9, Iraqi prime minister-designate Adnan al-Zurfi withdrew from his short campaign to form a cabinet after coming under pressure to step aside. Taking his place is intelligence chief Mustafa al-Kadhimi, a can
Read MoreThe Coronavirus outbreak is a sudden shock to the world that made and deepened economic crisis. However, an efficient government does not only increase its capacity to challenge the expected and unexpected events, it should rather be able to act fast. To discuss this, I will focus on water crisis in Iraq. In simple terms, economic shock refers to any imbalances bet
Read MoreOver the past week or so, China has eased quarantine measures in Wuhan – the city in which the global coronavirus pandemic began – with the entire lockdown scheduled to end on 8 April. With China’s President Xi Jinpiang having visited the city just a few days ago, the industrial economy across China as a whole is back working and operating at levels even above the pre-coronavir
Read MoreIraq depends on oil revenues, which have plummeted. The country is so desperate it is asking for donations to help it weather the pandemic. BAGHDAD — When Iraq recorded its first cases of coronavirus, its health minister asked the government for $5 million in emergency funds. But there were no funds to be had. “There is no money and we are in a difficult situation,” said
Read More