Speakers:

Dr Sonali Das
Senior Economist, World Economic Studies Division, IMF

Dr Philippe Wingender
Senior Economist, World Economic Studies Division, IMF

Date:

Friday, 23 April 2021
10:00 am – 11:30 am (Singapore Time | GMT+8)

Thursday, 22 April 2021
10:00 pm – 11:30 pm (Washington, DC Time | GMT-4)

Video recording:
PPT:

Please visit EAI’s YouTube channel for a video recording of the lecture.
Please click HERE for the presentation slides.

Abstract:

The COVID-19 pandemic has led to a severe global recession with differential impacts within and across countries. Although most East Asian countries did better than most, South Asia was hit hard by the pandemic.  A key question facing policymakers is the extent of persistent damage or scarring that may result from this crisis. Based on work for the latest World Economic Outlook, this seminar reviews scenarios for post-pandemic economic recovery and examines the persistent effects of the pandemic and the channels through which they may occur, with a special focus on Asia. Expected medium-term output losses from the pandemic are substantial, at about three per cent lower than pre-pandemic anticipated output for the world in 2024. The degree of expected scarring varies across countries, depending on the structure of economies and the size of the policy response. To limit the damage, policymakers should continue to provide support to the most-affected sectors and workers while the pandemic is ongoing. Remedial policies for the setback to human capital accumulation, measures to lift investment and initiatives to support reallocation will be key to address long-term gross domestic product losses.

About the Speakers:

Sonali Das is senior economist, World Economic Studies division, IMF’s research department. Previously, she worked in the IMF’s Asia and Pacific Department where she covered China, India, Nepal and Fiji, and in the IMF’s Strategy, Policy and Review Department where she worked on the IMF programme with Pakistan. Her research focuses on monetary policy and financial stability. She holds a PhD in economics from Cornell University.

Philippe Wingender is senior economist, World Economic Studies division, IMF’s Research department. Prior to this, he was in the European and Fiscal Affairs departments. He has worked on several countries, including China, Denmark and Uganda, both as an economist and tax policy specialist. His professional and research interests include fiscal policy, income inequality, climate change and applied econometrics. He holds a PhD in economics from the University of California at Berkeley.