The COVID-19 crisis has made it clear that pandemic policy is economic policy.


The COVID-19 crisis has made it clear that pandemic policy is economic policy.


The COVID-19 crisis has made it clear that pandemic policy is economic policy.


Rethinking Multilateralism for a Pandemic Era

Incremental changes to existing mechanisms have failed; a fundamental reset is needed

Ngozi Okonjo-Iweala, Tharman Shanmugaratnam, and Lawrence H. Summers

Pandemic Economics

A broad-based economic recovery requires an end to the pandemic

Ruchir Agarwal and Gita Gopinath

Accelerating Vaccinations

Expanded production and more money for research will get shots into arms faster

Arthur Baker, Esha Chaudhuri, and Michael Kremer

Going the Last Mile

Improving sub-Saharan Africa’s logistics could be the key to successful vaccine delivery

Eugene Bempong Nyantakyi and Jonathan Munemo

Reflections on a Healthy Society

Six thinkers explore lessons learned from the pandemic to cultivate a more resilient world

Michelle Bachelet, Jeffrey Sachs, K.K. Shailaja, Christian Happi, Kate Soper, and María del Rocío Sáenz

Financing Health Systems for the Future

We must view universal health coverage as a public policy goal and an investment

Tedros Adhanom Ghebreyesus

A Life Well Lived

Tree countries provide lessons for improving health and promoting happiness

Analisa R. Bala, Adam Behsudi, and Anna Jaquiery

Measuring National Well-Being

The search continues for a better gauge of prosperity than GDP alone

Daniel Benjamin, Kristen Cooper, Ori Hefetz, and Miles Kimball


Listening to Social Silence

Anthropology is vital for building back better

Gillian Tett

Toward Better Pandemic Preparedness

Infectious disease outbreaks are inevitable—but we can mitigate their effects by investing in prevention

Jay Patel and Devi Sridhar

Pandemic Lessons

Ruchir Agarwal interviews the Global Fund’s

Peter Sands on why economists should pay more attention to global health

A New Public Health Order for Africa

Regional solutions are what we need to get us through the next pandemic

John Nkengasong

Dementia Storm on the Horizon

The rising incidence of dementia around the world calls for global collaboration and decisive financing

Nathaniel Counts, Arindam Nandi, Benjamin Seligman, and Daniel Tortorice

The African Century

The right actions today will ensure that sub-Saharan Africa thrives in a post-COVID world

Abebe Aemro Selassie

Quantum Computing’s Possibilities and Perils

Quantum computers could crack the cryptography that underpins financial stability

José Deodoro, Michael Gorbanyov, Majid Malaika, and Tahsin Saadi Sedik


People in Economics Data-Driven

Chris Wellisz profiles MIT’s Amy Finkelstein, who tests economic models with large data sets

Picture This

The Journey of the COVID-19 Vaccine

The development of COVID-19 vaccines has been miraculous, but the path to inoculating the world presents many obstacles

Andrew Stanley

Back to Basics

What Are Global Public Goods?

Global institutions must coordinate to preserve the goods that benefit us all

Moya Chin

Book Reviews

Tumultuous Times: Central Banking in an Era of Crisis, Masaaki Shirakawa

The Future of Money: How the Digital Revolution Is Transforming Currencies and Finance, Eswar S. Prasad

Where Credit Is Due: How Africa’s Debt Can Be a Benefit, Not a Burden, Gregory Smith

Title Page


A Quarterly Publication of the International Monetary Fund


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Steven Barnett

Nicoletta Batini

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Era Dabla-Norris

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Deniz Igan

Kenneth Kang

Subir Lall

Raphael Lam

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Papa N’Diaye

Mahvash Qureshi

Uma Ramakrishnan

Daria Zakharova

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Finance and Development, December 2021
Author: International Monetary Fund. Communications Department