April.10.2020
The financing needs of low income countries whose economic vulnerabilities have been exacerbated by the COVID-19 pandemic merits urgent attention. The Institute of International Finance (IIF) has made an important contribution to the call for a private sector response, in conjunction with public sector action. The IIF’s letter makes an important distinction between the immediate economic crisis containment/fighting phase and the subsequent crisis resolution phase, which will require different financing and legal tools.
Orrick’s Counsel, Thomas Laryea, is a member of the IIF’s Committee on Sovereign Risk Management.