East Asia and Pacific: Countries must act now to mitigate economic shock of COVID-19

World Bank

Photo by Capturing the human heart. on Unsplash

Developing economies in East Asia and the Pacific (EAP), recovering from trade tensions and struggling with COVID-19, now face the prospect of a global financial shock and recession. Sound macroeconomic policies and prudent financial regulation have equipped most EAP countries to deal with normal tremors. But significant economic pain seems unavoidable in all countries.

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