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.
An analysis of global responses to the virus indicate that expanding the capacity to test, trace, and isolate potential carriers is effective, as is the expansion of paid sick leave benefits.
Innovative, new methods are needed to estimate poverty due to the high costs and long time frame of traditional methods.
Policies that promote wellness can help Asians navigate the uncertain, stressful COVID-19 world and achieve a better post-pandemic lifestyle.
The more Viet Nam’s state-owned enterprises can access capital through the strength of their own balance sheets, the more they can help fund infrastructure, social development and COVID-19 response.
Asian regulators and policy makers should undertake prudential financial supervision and regulation to improve the quality of private debt and reduce the risk of financial instability in the future.
Families throughout Asia and the Pacific rely on money sent by relatives overseas. These remittances are threatened by the pandemic but policy actions can help.
To mitigate the damage, governments should focus on containing the pandemic, helping families and supporting businesses
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.