Research

Many countries across the Middle East and North Africa, or MENA, region have faced critical challenges in ensuring the effective and equitable vaccination of their citizens against COVID-19. With a few exceptions, like Morocco, Israel and several Gulf states, countries in the region have faced difficulties in securing sufficient doses due to logistical constraints, poor planning and vaccine hesitancy. As of mid-August, only 21 percent of the region’s population had received at least one dose, and less than 13 percent were fully vaccinated. This puts the region far behind the developing country average of 36 percent with at least one dose and 22 percent fully vaccinated. Moreover, while some countries have accelerated their vaccination campaigns under the pressure of recent COVID-19 surges, other campaigns seem to be slowing or stalling. As countries brace for new waves of the pandemic, MENA governments—and their international supporters—must find ways to address the root causes of their halting vaccination campaigns.

In response to the global pandemic, public authorities in Egypt responded with a comprehensive package aimed at tackling the health emergency and supporting economic activity. This column examines how private sector firms perceived ease of access to finance before and after the emergence of Covid-19 in 2020.

Stephan Walt writes that Trump's foreign-policy instincts might be more sound—but he has forfeited the chance to lead.

Despite the far-reaching effects of the current pandemic,  the essential nature of world politics will not be transformed. The territorial state will remain the basic building-block of international affairs, nationalism will remain a powerful political force, and the major powers will continue to compete for influence in myriad ways. Global institutions, transnational networks, and assorted non-state actors will still play important roles, of course, but the present crisis will not produce a dramatic and enduring increase in global governance or significantly higher levels of international cooperation. In short, the post-COVID-19 world will be less open, less free, less prosperous, and more competitive than the world many people expected to emerge only a few years ago.

Juergen Braunstein and Sachin Silva argue that sovereign wealth funds may be central to governments' efforts to balance public responsibility with private interests in post-pandemic economies.

The coronavirus pandemic has already devastated the international economy.  Stephen Walt explores what history and theory say about the military fallout.

Today’s economic crisis leaves us with an unsettling and perplexing regret. Why weren’t financial portfolios already adjusted for risks that stem from health events such as pandemics? After all, financial portfolios are adjusted for liquidity risks, market risks, credit risks, and even operational and political risks.

At the start of this year, things seemed to be looking up for the global economy. True, growth had slowed a bit in 2019: from 2.9% to 2.3% in the United States, and from 3.6% to 2.9% globally. Still, there had been no recession, and as recently as January, the International Monetary Fund projected a global growth rebound in 2020. The new coronavirus, COVID-19, has changed all of that.