COVID-19 Recess: Worse Than 2008 Global Financial Crisis

Gauging supply & demand side

Companies Response

Authorities Response



  1. Arslan, Y, M Drehmann and B Hofmann. 2020. Central bank bond purchases in emerging market economies, BIS Bulletin no 20.
  2. Drehmann, M, M Farag, N Tarashev and K Tsatsaronis. 2020. Buffering Covid-19 lossesthe role of prudential policy, BIS Bulletin no 9.
  3. Hördahl, P and I Shim. 2020. EME bond portfolio flows and long-term interest rates during the Covid-19 pandemic, BIS Bulletin, no 18.
  4. IMF. 2020a. Tracking the $9 trillion global fiscal support to fight Covid-9, IMF Blog, 20 May.
  5. IMF. 2020b. Fiscal monitor, April.
  6. IMF.2020c. World Economic Outlook, October.
  7. Kohlscheen, E, B Mojon and D Rees. 2020. The macroeconomic spillover effects of the pandemic on the global economy, BIS Bulletin, no 4, April.
  8. McKibbin, W and R Fernando. 2020. The global macroeconomic impacts of Covid-19: seven scenarios, CAMA Working Paper, no. 19/2020.
  9. Meirison, M. 2018. Riba and Justification in Practice in Scholars’ Views. Transformatif, 2(1), 348.
  10. OECD. 2020, Evaluating the initial impact of Covid containment measures on activity, 27 March



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