Tapering in a Time of Conflict

The global economy is, literally and metaphorically, staring down the barrel of a gun. Stopping the war in Ukraine, rebuilding its economy and delivering a lasting peace settlement must be the priorities. But the international community will also need to deal with the widespread economic damage that the conflict is already causing in many parts of the developing world; damage that will only intensify as the conflict persists. Recalling George Marshall’s response to the challenges of an earlier post-conflict world, the truth of the matter is that for a significant number of countries, the financial requirements for the next few years are so much greater than their present ability to pay that substantial additional help will be needed to mitigate economic, social, and political deterioration of a very grave character.

Sustainable Development Goals:

Decent Work and Economic Growth

Industry, Innovation and Infrastructure

Reduced Inequalities