To hesitate is to lose ground in the battle against corona's devastation
If the corona crisis has taught us one thing it is that dithering has huge costs. In the US, President Donald Trump's early denialism this week helped put it in the unhappy position of becoming the country with the highest number of Covid-19 infections. In health terms, days matter. You delay, you hurt. It is also evident that delaying a financial response can come at a very high cost.
International Monetary Fund (IMF) MD Kristalina Georgieva noted this week that $83bn (R1.4-trillion) had been withdrawn from emerging economies since the beginning of the crisis. She said 80 countries had applied for assistance. Petitions by economists this week called for global authorities to agree on a plan to ward off the worst potential effects on developing economies. This included getting the IMF to agree to co-ordinate the imposition of capital controls for developing economies.