GDP contracted by 9 1\2 percent in 2020-a much steeper decline than during the Asian Financial Crisis (AFC)-but it is now recovering with the easing of containment measures and economic policy support. Banks are closely connected to the corporate sector through high credit exposures and...

Why are some global financial crises more difficult to recover from and overcome than others? What steps are necessary in ensuring that financial stability and recovery is facilitated? And what kind of environment has the previous financial environment evolved to and what kind of financial...