White Paper

The Volatile New Normal: Improving Demand Forecast

On February 19, 2020, the International Monetary Fund's managing director, Kristalina Georgieva predicted that uncertainty and volatile market conditions would become the norm, saying that "uncertainty is becoming the new normal" in a virtual meeting of G20 leaders, warning them about the financial effects of the impending global health crises. Nearly ten months later, her prediction has been correct on all counts. Financial markets have become unstable and so have the producers and consumers that support said markets.