After a strong first half of the year, in which many countries recorded double-digit year-on-year growth, the spread of the Delta variant in the third quarter led to the implementation of lockdowns and travel restrictions across the region.
Developing Economies risk “Hard Landing” in 2023 says World Bank
Growth in EAP is projected to decelerate to 5.1 percent in 2022, reflecting a slowdown in China. Thailand’s economy is expected to recover gradually over the next two years, with growth picking up in 2022 and strengthening to 4.3 percent in 2023.
Emerging Market Trends: global cooperation increased in 2021
Following on from a year in which supply chains and international travel were severely disrupted, 2021 saw an increase in global cooperation, as institutions, businesses and governments alike sought to work together to find solutions to some of the world’s major challenges.
In a year in which significant political efforts have been made to speed up the energy transition, 2021 has also been record-breaking for green finance, as governments, international institutions and lenders alike seek to support the shift towards renewables.
Global Community Steps Up with $93 Billion Support Package for World’s Poorest Countries
The World Bank today announced a $93 billion replenishment package of the International Development Association (IDA) to help low-income countries respond to the COVID-19 crisis and build a greener, more resilient, and inclusive future.