Moody’s: Cambodian economy in ‘recovery’

[geovalin]

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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