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 pandemic is challenging policymakers across Asia. The shape of the economic recovery is uncertain but pro-active government and central bank policies can improve outcomes.
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.
Finance, globalization, technology and urbanization – key drivers of economic growth – can lead to more or less inequality—depending on how prevalent they are in the economy.
The pandemic has worsened inequality on many fronts. Pro-active macroeconomic policy combined with labor retraining programs and increased social protection are needed.
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.
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.