Moody’s: Cambodian economy in ‘recovery’

With outlooks for emerging markets darkening considerably as developed economies rapidly vaccinate citizens, Moody’s Analytics has listed Cambodia among six “recovering” economies in ASEAN.

The Kingdom is currently enduring a second wave after over 21,500 cases emerged following the so-called Feb 20 event, which caused Coronavirus to spread widely. As a result, the International Monetary Fund and World Bank downgraded the Kingdom’s growth outlook for this year.

“The pandemic has rubbed some of the sheen off fast-growing Southeast Asia, with economic recoveries blunted last fall and early this year by successive outbreaks. Although most emerging economies in Southeast Asia were able to temper first waves through a combination of stringent lockdowns and contact tracing, the pandemic’s return late fall and intensification this year have thrown the region’s economies for a curve,” Jesse Rogers, an economist at Moody’s Analytics said.

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