Coronavirus Impacts Global Markets, U.N. Operations; World Leaders Work To Mitigate Pandemic’s Economic Effects
Reuters: World leaders rush in to shore up panic-hit global financial system
“World finance leaders tried to lift confidence with emergency measures to pour cash into panic-stricken markets on Thursday, as investors everywhere dumped assets, switching to dollars amid the escalating coronavirus pandemic. Policymakers in the United States, Europe, and Asia have slashed interest rates and opened liquidity taps to stabilize economies left almost comatose, with quarantined consumers, broken supply chains, paralyzed transportation, and depleted shops…” (Zaharia, 3/19).
U.N. News: Swift policy action, strong leadership can save millions of jobs, ‘avert the worst’ amid COVID-19 pandemic
“As dire forecasts about the global economy add to the anxiety surrounding the COVID-19 pandemic, the U.N.’s labour agency (ILO) on Thursday offered a range of urgent measures, which, if governments act quickly, can help to protect workers in the workplace, stimulate the economy and save millions of jobs…” (3/18).
Bloomberg: Pandemic Bond Payouts Likely to Be Held Up By Fine Print (Vossos, 3/18).
Foreign Policy: U.N. Diplomacy In The Age of Contagion (Lynch, 3/18).
The Hill: Asian Development Bank to give $6.5 billion to developing member countries for coronavirus response (Coleman, 3/18).
Reuters: JPMorgan commits $50 million to businesses, people affected by coronavirus (Marshall, 3/18).