The Covid-19 pandemic is taking a devastating toll across Asia and the Pacific. The appalling loss of life, the deep restrictions on movement and social interaction, and the staggering impact on economic activity have touched every corner of our region. As communities, governments and the private sector grapple with the immediate impacts of the pandemic, we must also define the course for recovery and ensure the choices we make today will lead toward a more inclusive, resilient, sustainable, and prosperous future for the region.
After a decade of steady growth averaging about 6.6% annually, the economies that collectively comprise developing Asia are set to contract in 2020. This is the first contraction in nearly six decades.
