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.

Following the UAE, and Bahrain, and one month before Sudan, Morocco became the third country in the MENA region to normalize ties with Israel in 2020. In exchange for resuming ties with Tel Aviv, Rabat benefited from important security and financial deals with the United States and ensured the recognition of the kingdom’s sovereignty over Western Sahara. This paper explores the domestic, regional, and international politics that determined the kingdom’s approach and assesses how the kingdom has navigated competing pressures.

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.

As the divergent experiences of the US and South Korea show, testing can be the difference between disease containment and catastrophe. Rather than relying on national governments to ensure the rapid development, production, and deployment of diagnostics during outbreaks, the world needs a global coordinating platform.

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.

Could using the cash in your pocket have the potential to spread covid-19? That question has rarely appeared in the news, but many governments and leaders in the digital payments industry are wondering how the virus might impact the use of cash. Several countries have already taken drastic measures to limit circulation of bank notes. Could such interventions lead to the end of cash payments?

Capital Choices analyzes the creation of different SWFs from a comparative political economy perspective, arguing that different state-society structures at the sectoral level are the drivers for SWF variation. Juergen Braunstein focuses on the early formation period of SWFs, a critical but little understood area given the high levels of political sensitivity and lack of transparency that surround SWF creation. Braunstein’s novel analytical framework provides practical lessons for the business and finance organizations and policymakers of countries that have created, or are planning to create, SWFs.