Saudi Arabia’s decision to weaken the link between hydrocarbons and economic growth, and pursue a policy of diversification has seen a wide range of projects come to fruition in the last several years. While at present the Covid-19 pandemic and the unprecedented plunge in oil prices are causing significant short-term uncertainty, the reforms that have been put in place in recent years should stand the Kingdom in good stead over the longer term.
As Nigeria scales back its coronavirus restrictions, the country is looking to digital innovation to ease the impact of an economic slowdown and maintain food security.
The onset of a coronavirus-induced global recession has affected both labour markets and financial flows across the world. At the confluence of these two are remittances, which have increasingly been among the top contributors to GDP in many emerging markets over recent decades.
Oman acted quickly to limit the spread of the virus. A range of measures were implemented, including travel restrictions on international flights and internal public transportation services, the closure of all schools, universities, malls and non-essential shops, and the suspension of prayers at mosques.
Papua New Guinea’s foreign currency reserves are being put under renewed pressure by the coronavirus pandemic, but there is hope that gold exports could partially offset falling prices and lower demand in other commodity markets.
As much of the Philippines remains under 'enhanced community quarantine' due to Covid-19, the country’s vital business process outsourcing (BPO) industry has adjusted to new working practices and shifts in demand.
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