Transcription of COVID-19 Outbreak: Capital Markets Implications and …
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COVID-19 Outbreak: Capital Markets Implications and …
Page 1 of 26 March 25, 2020 COVID- 19 outbreak : Capital Markets Implications and Response1 March 25, 2020 The COVID-19 crisis is an extraordinary supply and demand shock to the global economy with far reaching and uncertain ramifications. Emerging Markets and Developing Economies (EMDEs) are highly exposed, and Capital Markets are one of the main transmission channels of this on-going, global, systemic shock. This note identifies the impact of this evolving crisis on EMDE Capital Markets to date, assesses the different policy actions that policy makers have taken in response, and outlines some aspects of the assistance that the World Bank can provide to help alleviate the financial and economic damage from the coronavirus pandemic.
capital markets in EMDEs experienced 4capital outflows at unprecedented levels. • Low or no activity in some bond markets: The primary market for new bond issues has closed for many issuers, which is a key concern, especially for lower-rated sovereigns and
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