A socially oriented non-financial development institution and a major organizer of international conventions, congress, exhibitions, business, social and sporting, public, and cultural events.

The Roscongress Foundation – a socially oriented non-financial development institution and a major organizer of international conventions, congress, exhibitions, business, social and sporting, public, and cultural events.

The Foundation was established in 2007 with the aim of facilitating the development of Russia’s economic potential, promoting its national interests, and strengthening the country’s image. One of the roles of the Foundation is to comprehensively evaluate, analyse, and cover issues on the Russian and global economic agendas. It also offers administrative services, provides promotional support for business projects and attracting investment, and helps foster social entrepreneurship and charitable initiatives.

Each year, the Foundation’s events draw participants from 208 countries and territories, with more than 15,000 media representatives working on-site at Roscongress’ various venues. The Foundation benefits from analytical and professional expertise provided by 5000 people working in Russia and abroad. In addition, it works in close cooperation with 130 economic partners; industrialists’ and entrepreneurs’ unions; and financial, trade, and business associations from 70 countries worldwide.

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Research
17.07.2020

COVID-19 and Global Capital Flows

This study examines the impact of the COVID-19 crisis on global capital flows and measures taken by various countries regarding currency control.

This study by the Organisation for Economic Cooperation and Development examines the impact of the COVID-19 crisis on global capital flows and measures taken by various countries regarding currency control. In addition to having dramatic implications for the health of people around the world, the COVID-19 outbreak has triggered major economic and financial consequences: GDP is now expected to contract by 6% globally in 2020; trade could fall by 12–32%; and FDI flows are expected to fall by around 40%. The global economic shock brought about by COVID-19 has led to a great many consequences. In particular, there has been an unprecedented outflow of capital from emerging market economies, as foreign investors have been selling their portfolio assets. The scale and speed of capital outflows in the current crisis have been about four times larger than during the 2008 financial crisis. In the face of this, currency-based measures have become an important part of emerging market economies’ policy toolkits. Countries will continue to review and adjust their support measures, including by drawing upon the experience of other countries in this area. As market fragmentation could make it more difficult to raise funding, countries have a strong interest in cooperating to find the most appropriate tools to address the crisis. Here, international cooperation will be key.

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