The twin shocks of the pandemic and weak global trade has particularly impacted Thailand due to the country's position as a trade and tourism hub. Thailand's tourism arrivals reached only 75 percent of pre-pandemic levels in September despite the ongoing growth in global services trade. Visitor...

The Indonesia Economic Prospects (IEP) is a bi-annual World Bank report that assesses recent macroeconomic developments, outlook and risks, as well as specific development challenges for the Indonesian economy. In doing so, the IEP aims to inform the public policy debate and is geared towards a...

Pakistan is facing yet another balance of payment crisis. Authorities have taken some corrective measures and negotiated a 39-month stabilization program with the International Monetary Fund (IMF). Nonetheless, inflationary pressures increased during FY19. Current account deficit narrowed as...

The COVID-19 (coronavirus) global pandemic will have a large negative impact on the Kenyan economy. Even before being affected by the novel coronavirus, Kenya's economy had decelerated. The World Bank estimates that GDP growth in 2019 was about 5.6 percent, down from 6.3 percent in 2018. The...

Before the COVID-19 (Coronavirus) pandemic, Somalia's economy was on an upward trajectory, recovering from the 2016/17 drought. The economy grew at an estimated rate of 2.9 percent in 2019, on par with population growth, and was projected to grow at 3.2 percent in 2020. The COVID-19 pandemic has...

This report presents an overview of Algeria's recent macroeconomic developments and of its short-term economic outlook. The report is divided into two chapters. Chapter one presents the country's macroeconomic developments in 2019, which establishes the context for the unprecedented developments...