19 июня 2020 г.

The economic crisis caused by the COVID-19 pandemic is the main theme in the current agenda.

Russia is the third most-affected country in terms of a total number of infections. Naturally, everyone is anxious about the current COVID situation, as well as the future of the country’s economy as a result of the lockdown measures.

To discuss these things in detail CFA Association Russia invited Ruben Enikolopov, PhD in Economics from Harvard, Head of the New Economic School (NES). The event was held online via a video conference and broadcasted on four different channels – YouTube, Facebook, the society’s website and the Russian social media VKontakte.

The pandemic has affected the most vulnerable populations, in Russia and the world alike. The least educated and skilled, as well as all those who didn’t have enough savings to endure the lockdown, have been hit the most, the speaker said.

Another important factor of this crisis is that most countries have been hit by it. During the 2008-2009 crisis, for example, China and some other emerging markets were growing, helping the rest of the world to eventually climb out of the recession, Ruben explained.

The key risk for Russia is a downward spiral of the economy caused by the decrease of demand and consumer spending, and eventually supply. The closure of a number of industries increased unemployment, people’s disposable income plummeted, uncertainty increased; in the worst case scenario, all of these could lead to a financial collapse, the speaker said.

Overall, Ruben delivered a value-packed and knowledge-based presentation on one of the most important topics of the present day.

To watch a full video of Ruben’s presentation, as well as gain unlimited access to all videos from our previous events and seminars, consider joining the society using this link.


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