How vulnerable are EMEs to renewed Covid-19 turbulence?
Emerging markets face pressures from the health crisis and global financial forces, says Steve Kamin
The many vulnerabilities of emerging market economies (EMEs) to the global coronavirus pandemic are well documented. To varying degrees, these economies labour under weak public health systems, poor and financially vulnerable populations, inadequate social safety nets, limited monetary and especially fiscal policy space, and high exposure to global trade and commodity prices1.
By themselves, these considerations would be extremely worrisome. But on top of that, EMEs – and lower-income
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