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“Business Unusual” in a world of extreme uncertainty
The Bank’s latest Transition Report, entitled “Business Unusual”, surveys a global economic landscape scarred by the aftershocks of the pandemic and the consequences of Russia’s war on Ukraine.
“This non-exhaustive – yet quite exhausting – list of events would be challenging enough for governments and firms if it was spread over a decade or more,” said EBRD Chief Economist Beata Javorcik.
The 2022-23 Transition Report, an annual publication analysing progress on economic development and structural changes in the countries where the EBRD works, contains fresh survey data and insights that can inform public and corporate decision-making.
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To prevent “zombification” in the corporate sector, policymakers should gradually withdraw financial support for businesses, strengthen banking supervision, reform insolvency resolution procedures and develop private debt and equity markets.
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