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.
Irfan A. Qureshi
Irfan currently works in the Public Management, Financial Sector, and Trade Division in the Central and West Asia Department (CWRD). He was previously assigned to the Macroeconomics Research Division in the Economic Research and Regional Cooperation Department (ERCD) where he conducted macroeconomic surveillance and monitoring, and worked with the teams that produced the Asian Development Outlook (ADO). Prior to joining ADB as a Young Professional in 2018, Mr. Qureshi was an Assistant Professor of Economics at the Lahore University of Management Sciences (LUMS) in Pakistan, and a consultant for the World Bank Group. He obtained his Ph.D. in Economics from the University of Warwick in the UK.
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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.
Asian economies must strengthen their regulatory frameworks, and invest in digital networks and infrastructure, to support contactless payment systems.
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.
The right policies can bring a new golden age of innovation for developing countries in Asia.
A high level of external debt is linked with decreased economic growth but there are policy options that can help economies keep growing.