“There is still a chance that the Asia-Pacific region can pick itself up from its current wrestling match with Covid-19 and the Delta variant.
Moody’s Analytics said those with such programs in place would face a relatively smooth path toward broad economic recovery.In the case of the Philippines, Moody’s Analytics noted that while it had imposed economically devastating lockdowns, especially in Luzon which accounted for the bulk of its gross domestic product , these stringent movement restrictions had “little impact” on slowing down Covid-19 infections.
“The Philippines, which has struggled to engage with the export economy, still has a positive current account because imports are so low.
Source: Financial Digest (financialdigest.net)
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