Strategic Consultant
Frank Knight, an economist, formalised a distinction between risk and uncertainty in his 1921 book, Risk, Uncertainty, and Profit. In his classic book, Knight introduced a distinction between measurable uncertainty, which he called “risk,” and “true uncertainty,” which cannot “by any method be reduced to an objective, quantitatively determined probability.”
G7 finance ministers and central bank governors pledge to use policy tools against coronavirus threat, but effectiveness remains uncertain. Rate cuts have been swift but may be limited. Global economy faces potential impacts, including market downturn and decreased trade. COVID-19 presents major challenges, affecting economic and trade activities globally and in Iraq. Iraq faces dual crises with plummeting oil prices and trade disruptions amidst coronavirus outbreak. Fiscal deficits and vulnerabilities loom, but hope for containment and recovery persists.
Indrajit Roy Choudhury 