Dear All,
One of the major effects of the COVID-19 pandemic was the disruption in global supply chains and the crippling of world trade. Though it has been eleven (11) months since the first vaccine received FDA emergency approval and significant progress has been made in terms of economic reopening, the existence of newer variants to the virus as well as uneven vaccination across countries has somewhat dampened the global growth process. Developed economies like the US and UK have achieved 58.40% vaccination rate while Africa as a whole has barely vaccinated 1% of its population.
Last year, the pandemic heightened economic vulnerabilities of emerging markets and led to capital flight to jurisdictions considered as havens (mostly the United States and Japan). A visible effect was the broad-based depreciation in these emerging economies’ local currency to the USD (save for China) and sell-offs across different asset classes.
Please click the link below to access the full report attached
