Editor introduction

Steve Lindo

Editor, PRMIA

Nagaraja Kumar Deevi

Editor, PRMIA

In this October issue, PRMIA’s Sustaining Members and Sponsors contributed a diverse set of articles, as the COVID-19 pandemic continues to disrupt communities across the world and global economy recovery efforts are slowing down. The economy may well remain fragile and continue to struggle to regain prepandemic levels until the vaccination rate hits much higher levels. The WHO’s global COVID-19 vaccination strategy aims to get 70% of the global population vaccinated by the year 2022.

The global economic growth and recovery is taking place in developed and developing nations. Overall, developed nations have invested over 28% of their GDP in recovery, compared to only 1.8% for the least developed countries. Despite the headwinds created by the Delta variant, the US economy is recovering and overall GDP growth in Q2 has surpassed pre-pandemic levels. The strength of economic growth during the pandemic is attributed to the enormous legislative response in the last few quarters, including the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the Consolidated Appropriations Act, and the American Rescue Plan Act. Based on these all-out efforts, U.S. economic growth targets 5.6% GDP growth in 2021 and an expected decline to 4.4% GDP growth for 2022.

We continue to acknowledge the valuable contributions from our authors, for taking time out of their complicated work-life situations during these challenging times to share their thoughts, which range from the future of risk and compliance in financial institutions, to using risk intelligence to uncover growth opportunities, lessons learned from the 2008 market crisis, climate risk regulation, sustainability-linked financing, investment carbon zero-washing, the resiliency of central counterparties and Fed emergency procedures.

We thank this issue’s authors for their thoughtful contributions and extend this wish to the PRMIA community for the upcoming holidays: continue to be cautious and follow all health safety guidelines.

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