“…[S]harp spikes in global risk aversion and the flight of capital to safe assets have led to a decline in portfolio flows to the region by near $2 billion since mid-February, with sizable outflows observed in recent weeks.”
-Jihad Azour, writing on the IMF’s website, enumerates many of the shocks from the COVID-19 pandemic and trade collapse in the Middle East and Central Asia. Capital flight is one of many unseen and secondary issues that will have ongoing consequences for states in the region. [IMF]
