As the COVID-19 pandemic unfolded in the first quarter of 2020, governments around the world were forced to take drastic actions to counter the socio-economic challenges posed by the crisis.
TFG heard from Andreas Tesch of Atradius on the status of credit insurance market in Asia and the key initiatives taken in response to Covid-19’s impact on Asian trade.
The speed and severity of the economic downturn has been far greater than the last recession, in 2008–09. The IMF forecasts that world GDP will shrink by almost 5% this year. Growth is coming back as the lockdown eases.
TFG heard from development finance expert Diana Smallridge on the role of various institutions when it comes to financing trade, infrastructure, and exports.