From a Health Crisis to Financial Crisis: The Role of Australias Financial Support in Preventing Deep Crises in Asia

Adam Triggs

    Research output: Contribution to journalArticlepeer-review

    Abstract

    What started as a health crisis has quickly become a financial crisis. COVID-19 has unleashed a surge of financial crises across the developing world. Ecuador and Zambia have been the first to default and Argentina has postponed negotiations with creditors (Wallace 2020). Turkey, Lebanon and Rwanda look increasingly vulnerable and the International Institute of Finance warns South Africa is next (IIF 2020). More than 100 countries have approached the International Monetary Fund (IMF) for help since January 2020 (IMF 2020). If collapses in exchange rates are an indication of who might follow, Brazil, Russia and Mexico are at the top of the list.
    Original languageEnglish
    Pages (from-to)121-129
    JournalJournal of Australian Political Economy
    Issue number85
    DOIs
    Publication statusPublished - 2020

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