From Health Crisis to Financial Distress

From Health Crisis to Financial Distress

I discuss the multifaceted economic and financial vulnerabilities that have been created or exacerbated by the COVID-19 pandemic on a foundation of already weak economic fundamentals in many countries. Crises often do not travel alone. Banking, sov...

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Bibliographic Details
Main Author: Reinhart, Carmen M.
Format: Working Paper
Language:English
Published: World Bank, Washington, DC 2021
Subjects:
HEALTH CRISIS
CORONAVIRUS
COVID-19
PANDEMIC IMPACT
FINANCIAL DISTRESS
DEBT CRISIS
EXCHANGE RATE
PANDEMIC RESPONSE
CRISIS RESOLUTION
Online Access:http://documents.worldbank.org/curated/en/453511617831002973/From-Health-Crisis-to-Financial-Distress
http://hdl.handle.net/10986/35411
id okr-10986-35411
recordtype oai_dc
spelling okr-10986-354112022-09-20T00:09:18Z From Health Crisis to Financial Distress Reinhart, Carmen M. HEALTH CRISIS CORONAVIRUS COVID-19 PANDEMIC IMPACT FINANCIAL DISTRESS DEBT CRISIS EXCHANGE RATE PANDEMIC RESPONSE CRISIS RESOLUTION I discuss the multifaceted economic and financial vulnerabilities that have been created or exacerbated by the COVID-19 pandemic on a foundation of already weak economic fundamentals in many countries. Crises often do not travel alone. Banking, sovereign debt, exchange rate crashes, sudden stops, and inflation often intersect to become severe conglomerate crises. Historically, whether of the individual or conglomerate variety, crises influence the shape and speed of economic recovery. As the health crisis morphs into a financial or debt crisis in some countries, I discuss what may lie ahead in terms of the stages in crisis resolution and a brief reflection on how the resolution process can be expedited. 2021-04-08T21:19:13Z 2021-04-08T21:19:13Z 2021-04 Working Paper http://documents.worldbank.org/curated/en/453511617831002973/From-Health-Crisis-to-Financial-Distress http://hdl.handle.net/10986/35411 English Policy Research Working Paper;No. 9616 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Policy Research Working Paper
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic HEALTH CRISIS
CORONAVIRUS
COVID-19
PANDEMIC IMPACT
FINANCIAL DISTRESS
DEBT CRISIS
EXCHANGE RATE
PANDEMIC RESPONSE
CRISIS RESOLUTION
spellingShingle HEALTH CRISIS
CORONAVIRUS
COVID-19
PANDEMIC IMPACT
FINANCIAL DISTRESS
DEBT CRISIS
EXCHANGE RATE
PANDEMIC RESPONSE
CRISIS RESOLUTION
Reinhart, Carmen M.
From Health Crisis to Financial Distress
relation Policy Research Working Paper;No. 9616
description I discuss the multifaceted economic and financial vulnerabilities that have been created or exacerbated by the COVID-19 pandemic on a foundation of already weak economic fundamentals in many countries. Crises often do not travel alone. Banking, sovereign debt, exchange rate crashes, sudden stops, and inflation often intersect to become severe conglomerate crises. Historically, whether of the individual or conglomerate variety, crises influence the shape and speed of economic recovery. As the health crisis morphs into a financial or debt crisis in some countries, I discuss what may lie ahead in terms of the stages in crisis resolution and a brief reflection on how the resolution process can be expedited.
format Working Paper
author Reinhart, Carmen M.
author_facet Reinhart, Carmen M.
author_sort Reinhart, Carmen M.
title From Health Crisis to Financial Distress
title_short From Health Crisis to Financial Distress
title_full From Health Crisis to Financial Distress
title_fullStr From Health Crisis to Financial Distress
title_full_unstemmed From Health Crisis to Financial Distress
title_sort from health crisis to financial distress
publisher World Bank, Washington, DC
publishDate 2021
url http://documents.worldbank.org/curated/en/453511617831002973/From-Health-Crisis-to-Financial-Distress
http://hdl.handle.net/10986/35411
_version_ 1764482976965459968

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