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Central Banks and the COVID-19 Road to Recovery in Asia: Siddharth Tiwari & Ronnie C. Chan

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As of early June, COVID-19 has infected more than 7 million people worldwide. In spite of a global response that has encompassed case, community and travel-related measures, over 400,000 lives and counting have been lost. This crisis—like no other crisis—has led to a sharp economic contraction and shocked the global financial system. The International Monetary Fund has warned that the Covid-19 pandemic may trigger the worst recession since the 1930s Great Depression. Central banks have been at the forefront of an unprecedented response to provide liquidity to unfreeze markets and thereby support the real economy. The use of a wide array of tools has been successful in supporting financial and economic stability. But this crisis is not yet over. What are central bank priorities in the period ahead? How will Asia navigate the serious financial and economic headwinds and will this be complicated by trade tensions? In what ways can coordination among Asia’s policymakers help to address the challenges posed to the region? In what was seen as an Asian century, what will a post Covid-19 world look like for Asia and its economic recovery? Join Siddharth Tiwari, Chief Representative of the Bank for International Settlements (BIS) office for Asia and former long-time veteran of the IMF as he unpacks the latest thinking and insights from the seat of the world’s “Bank for Central Banks”. Ronnie C. Chan, Chairman of Asia Society Hong Kong Center, will moderate the discussion.
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