Oman was already working to diversify its economy, but the pandemic-induced disruption to oil and gas has further underscored the importance of developing a broader economic base to absorb the impacts of international crises and downturns in commodity cycles.
Following the expansion of Chinese-led projects in many emerging markets over the past decade, the G7 has unveiled its own initiative to support global infrastructure development, dubbed Build Back Better World (B3W).
A record initial public offering from Indonesian e-commerce platform Bukalapak underscores the growth of South-east Asia’s digital economy during Covid-19, and has the potential to trigger further tech listings in the region’s maturing market.
Dubai’s diversified and digitalised economy was able to absorb the impact of the Covid-19 pandemic relatively well. The emirate enjoys some of the fastest internet speeds and most advanced broadband infrastructure in the world, which facilitated the rapid shift to online work, education and commerce.
Mexico has implemented fiscally restrained adjustments in response to the pandemic, focusing on monetary policy and the redistribution of federal budgets rather than new loans from multilateral institutions such as the IMF.
As emerging markets around the world continue their recovery from Covid-19, remittances are playing a key role in supporting the economic rebound.
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