Douglas Arner, Ross Buckley, Dirk Zetzsche, and Artem Sergeev
in J Beirne, J Villafuerte & B Zhang (eds), Fintech and Covid-19: Impacts, Challenges, and Policy Priorities for Asia (ADB Institute 2022) ch 7
Published in 2022
Introduction: The year 2020 marked the start of a new decade and a new period of evolution for the global financial system and the global economy. It also brought the first global pandemic of the 21st century, and the worst in over 100 years, since the Spanish flu of 1918. The coronavirus disease (COVID-19) pandemic has caused significant social and economic disruption, with developing countries most severely impacted, across Asia and globally. Everywhere, the greatest toll has fallen on those most vulnerable, damaging to human development across the globe. The invasion of Ukraine at the beginning of 2022 is worsening the situation, particularly for the most vulnerable countries.