Speaking in Podbridge, a new podcast series presented through the U.S. Embassy and organized through the Ambassador of the United Arab Emirates to the United States, Yousef Al Otaiba, El-Erian described the systemic economic dangers caused by COVID-19, while the wonderful 2008 recession focused. within the monetary system. The current economic crisis will require continuous and complex interventions through foreign institutions, central banks and national governments. Many others will want sustained financial assistance just to survive. Until an effective vaccine is effective, measures should be taken to ensure the health, protection and economic productivity of society.
Cambridge-educated economist Oxford noted that while the interventionist policies of the 2008 monetary crisis prevented an economic depression, they did not herald sustainable, sustainable and inclusive expansion across all segments of society. This failure has led to a lack of monetary confidence for many families that has been exacerbated through the pandemic. “We cannot repeat the error of the global currency crisis, which was to win the war as opposed to depression, but not to achieve a certain peace,” El-Erian warned.
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SOURCE Embassy of the United Arab Emirates