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The Icelandic economy has been severely affected by the pandemic. Sharp tourism contraction and containment measures caused real GDP to plummet by 6.6 percent in 2020. A modest recovery will take hold in 2021. Recovery prospects in the tourism sector depend on control of the epidemic and...
Persistent link: https://www.econbiz.de/10012604433
A nascent recovery is underway in Thailand following the COVID-19 downturn. Ample policy buffers, underpinned by judicious management of public finances, allowed the authorities to implement a multipronged package of fiscal, monetary, and financial policies to mitigate the COVID-19 impact on...
Persistent link: https://www.econbiz.de/10012604437
The pandemic hit the Chilean economy while it was recovering from the 2019 social unrest. The authorities' swift and strong economic policy efforts and Chile's very strong institutional frameworks helped buffer the economic and social consequences. The ongoing economic recovery continues to be...
Persistent link: https://www.econbiz.de/10012516437
Successful containment of COVID-19 and strong policy support have helped contain the health and economic fallout, and a strong recovery is underway. Growth in 2020 reached 2.9 percent, among the highest in the world. However, labor market conditions remain weak. Corporate balance sheets have...
Persistent link: https://www.econbiz.de/10012516477
Indonesia has responded with a bold and comprehensive policy package to cushion the impact of the COVID-19 pandemic. The economy rebounded in the third quarter of 2020, and the economic recovery is projected to strengthen in 2021 and 2022. Strong policy support and an improving global economy...
Persistent link: https://www.econbiz.de/10012516489
Costa Rica has been hit hard by the COVID-19 pandemic, notwithstanding the authorities' proactive policy response and the country's well-established universal healthcare system. The socio-economic impact has been significant, exacerbating an already fragile outlook and pre-existing imbalances,...
Persistent link: https://www.econbiz.de/10012516491
Malaysia entered the pandemic from a robust economic position but has nonetheless been significantly affected. A synchronous fiscal, monetary and financial policy response has helped cushion the economic impact. As a result, after a deep recession in 2020, and assuming the pandemic is brought...
Persistent link: https://www.econbiz.de/10012516500
The Canadian economy was operating at close to capacity and had strong policy buffers when the COVID-19 pandemic hit. Economic and social restrictions put in place in March 2020 helped to mitigate the first wave of the virus, but they came at a significant cost. There was an unprecedented...
Persistent link: https://www.econbiz.de/10012516502
The Chilean economy has been hit by the pandemic while recovering from the social unrest in late 2019, requiring substantial adjustment of economic policies and the appropriate use of existing policy buffers. Following a sharp decline in mid-2020, economic activity started recovering in 2020H2...
Persistent link: https://www.econbiz.de/10012517702
Policies since 2018 have stabilized the economy in a very difficult environment. Yet many challenges remain for sustainable development, especially high debt and oil dependency. The authorities remain committed to continued reforms
Persistent link: https://www.econbiz.de/10013169199