During last year’s US presidential campaign, Joe Biden promised to crack down on tax-evading multinationals, and he has now called for a global minimum corporate tax rate. However, some fear that President Biden’s plan may hinder developing economies’ Covid-19 recovery.
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.
How has the Covid-19 pandemic generated challenges and opportunities for economic development in Abu Dhabi?
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.
With Covid-19 facilitating the widespread adoption of remote working practices, some emerging markets are seeking to attract digital nomads through a series of incentives and special visas.
Stay updated on how some of the world’s most promising markets are being affected by the Covid-19 pandemic, and what actions governments and private businesses are taking to mitigate challenges and ensure their long-term growth story continues.
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