Magda Kandil was a highly regarded economist and long-time supporter of ERF and The Forum. In her final column, written shortly before her untimely passing, she concludes that the Covid-19 pandemic provides an opportunity to integrate short-term challenges into the long-term reform agenda so that MENA countries can graduate from the current crisis to a better and sustainable path of growth and prosperity.

What is the nature of the Covid-19 shock? What are the consequences of and immediate responses to Covid-19? Are lockdowns sustainable? Can all countries do ‘whatever it takes’ to deal with the pandemic? How should countries prepare for a recovery? What of global supply chains and trade? And what of sovereign debt restructuring? This column addresses these seven key questions.

High rates of poverty coupled with high concentration of wealth in Arab countries indicate the need for stronger civic solidarity and the shared responsibility of the public, the private sector and the state for lifting the downtrodden out of poverty. This column makes the case for taxing top wealth to close the poverty gap and promote civic unity.

The economic slowdown caused by Covid-19 is expected to affect jobs, incomes, businesses and the flow of trade and remittances worldwide and across the Arab region. This column reports that an additional 16 million people are expected to be poor in 14 Arab countries as a consequence of the pandemic. Unfortunately, this is not a new trend.

Access to credit is valuable for small and medium-sized firms in developing countries that have substantial growth opportunities; but it can also make it more difficult to hide revenues from tax authorities. This column reports a study of how the characteristics of firms in Egypt affect the trade-off involved in participating in the financial system – and the extent to which firms are able to obtain credit when they need it.

The devastating financial tsunami that is engulfing Lebanon has been brewing since the early 1990s. This column explores the economic factors and policies that have led to this crisis – including austerity, political corruption, recession, sectarianism and unemployment – as well as the role of the central bank, the Banque du Liban.