WASHINGTON - In a bad case scenario, East Asia and the Pacific could see up to 11 million people driven into poverty, with low wage and informal sector workers the most vulnerable, the World Bank warns in a report on the economic impact of the Covid-19 pandemic.. Read more at straitstimes.com.
WASHINGTON - In a bad case scenario, East Asia and the Pacific could see up to 11 million people driven into poverty, with low wage and informal sector workers the most vulnerable, the World Bank warns in a report on the economic impact of the Covid-19 pandemic.
"A region that's been growing at steady six per cent overall could see, even in our baseline scenario, as much as four percentage points cut off the growth rate," Mr Aaditya Mattoo, the World Bank's Chief Economist for East Asia and the Pacific, told journalists on Monday in a conference call. One key policy recommendation from the World Bank is that countries should take an integrated view of containment and macroeconomic policy, rather than see them as separate instruments for separate goals, Mr Mattoo said.
"Beyond that, health policy needs to be innovative to enhance the capacity of hospitals, personnel and medical goods," he added. "Growth in the rest of the developing EAP region is projected to slow to 1.3 per cent in the baseline and to negative 2.8 in the lower case scenario in 2020, from an estimated 4.7 per cent in 2019."
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