Going into 2022, the question on many minds was the pace of the coronavirus disease 2019 (COVID-19) pandemic recovery. For the Economics & Country Risk team, we expected to see countries traverse divergent pathways even as the critical drivers of risk (climate agenda, supply chain disruptions, migration) were becoming increasingly intertwined. Businesses would find themselves navigating a global economy in transition – around the COVID-19 pandemic, fiscal policy, and the energy transition.