The Middle East

The coronavirus pandemic has raised awareness among GCC countries of the importance of environmental, social and governance (ESG) standards. If current trends continue, then ESG could become a valuable element of the region’s recovery from Covid-19.

The coronavirus pandemic has given rise to a global uptick in regional cooperation and interconnectedness as a means to economic recovery. Forming part of this trend, countries in the Arab world have recently moved to expand cooperation with regard to electricity supplies.

A combination of continued production cuts and an increase in economic activity has prompted oil prices to return to pre-pandemic levels – a factor that will be crucial to the recovery of major oil-producing countries in the Middle East and Africa.

Demand for Bitcoin has been surging globally since the beginning of the coronavirus pandemic, with interest reaching a fever pitch early this year. While it is not without its potential pitfalls, emerging economies are increasingly looking to cryptocurrencies as a way to drive their recoveries from the economic fallout of the virus.

While the coronavirus pandemic has rapidly accelerated digital transformation around the world, many emerging economies are still afflicted by inadequate ICT infrastructure, limiting their capacity to fully capitalise on the opportunities that are emerging from the disruption. This provides scope for public and private actors to collaborate in closing the gap.