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 