To benefit from the demand for Asian exports, rapid and widespread vaccination – particularly in light of the Omicron variant – is needed to stop the divergence in economic recovery paths among Asia’s economies.
Irfan A. Qureshi
Irfan Qureshi contributes to macroeconomic surveillance, monitoring, and research while working for ADB’s flagship publication, Asian Development Outlook (ADO). His research interests include financial market development, macroeconomic policy, and nowcasting. His research has been published in academic journals on topics relating to monetary policy and debt dynamics in emerging markets. Irfan joined ADB as a Young Professional, first in ADB’s Economic Research and Regional Cooperation Department, then in the Public Management, Financial Sector, and Trade Division in the Central and West Asia Department (CWRD). He obtained his PhD in Economics from the University of Warwick, United Kingdom.
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COVID-19 has resulted in broad impacts on food security in Asia. Policymakers must respond quickly and aggressively to these challenges to avert long-term damage from this emerging crisis.
As new virus outbreaks emerge in developing countries in Asia, vaccines are changing the nature of the pandemic by rendering COVID-19 a much less deadly disease. Governments are responding with milder containment measures.
The pandemic has worsened inequality on many fronts. Pro-active macroeconomic policy combined with labor retraining programs and increased social protection are needed.
Compared to Latin America and other regions, Asia scores high on innovation. The reasons are complex but education is fundamental to the process.
Wellness provides a more balanced and holistic view of a country’s development than its per capita gross domestic product. A new tool is helping policymakers measure wellness in society.
The pandemic represents a severe challenge for policymakers in Asia. They need a response that will help economies achieve a more efficient and fairer allocation of resources in the economy, enhancing productivity, economic growth and employment.