Italy’s euro-era GDP growth faces a total wipeout, says LJucca in the latest edition of Corona Capital. Catch up with the latest pandemic-related insights here ReutersFlasseur
. Both countries are trying to protect domestic supplies in case of shortages caused by Covid-19. The pandemic is also interfering with production. Malaysia’s largest palm oil producing state closed some plantations after workers tested positive for the disease.
It’s too soon to see an impact on prices. Russia, for example, is likely to see a bumper wheat harvest due to warmer weather. But a 2008 shutdown by Vietnam, the world’s third-largest rice exporter, sent world prices through the roof. Like Western shoppers who panic-buy pasta, protectionist policies could prompt others to follow suit.
It’s an unprecedented step for one of the most reserved emerging-market central banks. Developing countries, with higher inflation and a reliance on flighty foreign capital, have tended to steer clear of quantitative easing. But with yields on the 2026 domestic benchmark shooting to 12% this week from 8.1% on March 11, market ructions threatened the cash-strapped government’s ability to finance itself.
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