The international economic and financial order after the pandemic and war

Abstract

The fifth report in The Future of Banking series, part of the Banking Initiative from the IESE Business School, examines the implications of the Covid-19 pandemic and the war in Ukraine for the international economic and financial order. It centres around three major components: the macroeconomic outlook and the changes needed to the economic policy model (fiscal, monetary and regulatory) to preserve economic and financial stability; the consequences for the international monetary system and the position of the US dollar; and the financial architecture needed to ensure sovereign debt sustainability, with special attention to Europe.