Editor Andrea Fiano's monthly letter to you, the reader.
APRIL 2020 | VOL. 34 NO. 4
The coronavirus pandemic is a human tragedy of potentially biblical proportion. Many today are living in fear of their lives or mourning their loved ones. The actions being taken by governments to prevent our health systems from being overwhelmed are brave and necessary. They must be supported. But those actions also come with a huge and unavoidable human cost. While many face a loss of life, a great many more face a loss of livelihood.
Mario Draghi, the former president of the European Central Bank, wrote this comment in the Financial Times a few days ago. “We face a war against coronavirus and must mobilize accordingly,” he added.
We chose these words to summarize our feelings now that coronavirus has changed our lives, hitting most of the world—albeit at different times and with a different intensity. While China, South Korea and most of Asia seem to have survived the worst effects of the virus, in Europe and North America the effects are devastating and do not seem to have yet reached a peak.
At Global Finance, working remotely is nothing new for our contributors spread around the globe, but it is a change for us in the editorial heart of the magazine. We feel an increased responsibility to inform our readers, to provide analysis, explore near-term scenarios and honestly assess the economic damage. Current conditions make the task particularly hard, but the need for accurate, balanced information is clearly stronger in times like this, so the challenge only strengthens our will. There will be a “day after” when individuals and corporations will rebuild, devising new strategies for the changed world. We want to be there.
This issue of the magazine was planned well before a new virus became a pandemic. While we’ve included new content, the virus is a fast-moving target. There will be more to say. The assessment of COVID-19’s consequences has only just begun.