While many Gulf nations were already working to diversify their economies prior to the coronavirus pandemic, the subsequent economic downturn and collapse in oil prices has meant that governments in the region have had to reassess and – in some cases – accelerate their strategic plans.
Debt management has become a key challenge for many emerging markets as the coronavirus pandemic continues, with major creditors debating the suspension and perhaps even reduction of debt.
The coronavirus pandemic has had a profound impact on higher education in the GCC, with many institutions making radical and potentially permanent changes to both teaching methods and business models.
As many countries turn to debt to help fund their recoveries from the coronavirus pandemic, an increasing number of governments and companies are looking at sustainability-focused financial instruments such as green bonds to fund major projects.
While the coronavirus pandemic has had a negative impact on many businesses throughout 2020, a recent rebound in mergers and acquisitions (M&A) has pointed towards a partial recovery in investor sentiment – as well as demonstrating that certain sectors have taken on greater importance as a result of Covid-19.
With purchases and transactions increasingly moving away from cash and towards digital channels during the pandemic, both central banks and private institutions around the world are continuing to explore the potential of digital currencies.
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