GREF, Economic Recovery and COVID-19

The consequences of COVID-19 have been far reaching for the economy. From the IMF and the US focused on vested interests amid the ongoing pandemic countries including Pakistan, China, Turkey, Russia, Iran namely the Golden Ring Economic Forum (GREF) members should also smartly manipulate to their benefit in a post COVID-19 world.

The GREF comprises of countries that account for and control nearly 30% of the total world resources be it natural or man-made and if they were to work in alliance to ensure the economic stability and security of the GREF members. They could inevitably ensure the guaranteed economic sustainability of each in a post-coronavirus world.

US, COVID-19 and Economic Instability

Experts have debated on this concept of a “Shared Economic Recovery” introduced by the GREF and briefly discussed above. The basis of the idea is to workout a ‘joint planning’ which could ensure financial sustainability according to a country’s ‘geo-strategic’ position such as with Pakistan.

This joint planning could work either on the basis of purely ‘barter’ functions or on exchange of resources as per need. If this were to happen, Pakistan could greatly benefit from it for its ideal centering and ties with multiple GREF member states.