Post-Pandemic Central Asia: Moving Beyond ‘Helicopter Money’
“IMF Managing Director Kristalina Georgieva described the scope and scale of the COVID-19 pandemic challenge bluntly: “COVID-19 has disrupted our social and economic order at lightning speed and on a scale that we have not seen in living memory.” The recent announcement by the IMF that it would provide $375 million in emergency assistance to Uzbekistan demonstrates the commitment of international financial institutions to address the economic upheaval created by the pandemic in the Central Asian region.
Virtually all major financial institutions long associated with the “West,” such as the World Bank and the Asian Development Bank, have announced major financial assistance programs that apply to Central Asia. The newer international financial institutions associated with the “East,” such as the Eurasian Development Bank and the Asian Infrastructure Investment Bank, have also stepped forward offering emergency assistance. . .”
Excerpt from The Diplomat, May 20, 2020.
This article reflects the views of the author and are not necessarily the official policy of the United States, Germany, or any other governments.