In Central Asia, it once took up to 58 hours and $318 for a cargo truck to cross a border. Countries in the region are working together to streamline the process for goods and services to move across borders.
State-owned enterprises, including power utilities, in many countries have collected a menagerie of assets unrelated to their core business. And they are selling cheap.
Reforming state-owned enterprises can be an extraordinarily complex activity but it is underpinned by a single clear goal.
Bold action is required by policymakers and central bankers to keep the region’s economies afloat and contain the pandemic.
A forward-looking, regional approach is needed for countries in Central Asia to respond to the pandemic and prepare for future public health threats.
The historic spirit of cross-border trade in Central Asia is being revived in the energy sector.
Our research indicates that the global economy could lose more than $100 billion in remittances. Governments need to act fast to protect the most vulnerable in society from this loss of vital income.
Governments in Central and West Asia must commit to reforms and get them right, or face a downward spiral. The costs of the crisis are already obvious in rising deficits and debt. There is no room for complacency.
With expanding regional cooperation and a readily available platform, the building blocks are in place for Central Asia to achieve energy security, resilience and economic competitiveness.
By working together with countries to make sound socioeconomic development strategies, multilateral financial institutions can contribute substantially to the fight against the pandemic.