The year 2021 has gotten off to a bitter-sweet start on the global front. The de-escalation of the Gulf-Qatar tensions, the surge in Chinese demand, and the upbeat risk-sentiment that have supported rallies in emerging markets and commodities markets, have created a semblance of a return to stability. On the flip side, the adverse realities…
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The COVID-19 pandemic that has persisted through the year, has raised the need to protect people, stabilize demand and stimulate recovery. The provision of emergency support has brought additional expenditure obligations, including emergency healthcare services, stimulus packages, payroll supports and rise in unemployment benefits. While advanced economies had automatic stabilizers to cushion the effect of…
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