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Even before the outbreak of COVID-19, the level of global debt was high by historic standards. According to the Institute of International Finance, by late 2019 global debt (including private and public debt) was more than US$250 trillion.

Public debt, in particular, has increased everywhere since the global financial crisis of 2008.

IMF calculations show that public debt ratios in almost 90 per cent of advanced economies are higher than before 2008. Emerging markets on average have seen such ratios increase to levels similar to those seen during the crises of the 1980s and 1990s. Public debt has also built up in low-income countries with two-fifths at high risk of debt distress.

How much global debt has been added on the back of the COVID-19 health emergency? Focusing only on low-income and emerging economies, IMF Managing Director Kristalina Georgieva reckoned that US$2.5 trillion was a ‘very conservative, low-end estimate’ of their …

The COVID-19 pandemic is having a negative impact on CLMV economies through their dependency on foreign-sourced revenue from tourism and exports says KResearchCenter.

While the COVID-19 crisis has caused the rate of economic growth in the CLMV bloc to be at its lowest in two decades, the CLMV economies could grow at 3.4 percent this year.

Overall, the CLMV economies will tend to undergo a speedy recovery over the next 1 to 2 years – with economic growth projected to reach 6.4 percent in 2021 and 6.5 percent in 2022.

Countries which are heavily dependent on foreign revenue are facing more negative effects during this crisis.

Cambodia is the most severely affected country, as it is extremely reliant on foreign income through tourism and exports. Tourism is expected to shrink by an estimated 60 percent this year. Meanwhile, in terms of exports, Cambodia remains most dependent on the …

Emergency workers usually busy attending accidents on Thailand’s roads mill around ambulances parked at a service station — fewer crashes and crimes a welcome outcome for several Asian countries during coronavirus lockdowns.

As Asia starts to assess the damage caused by the pandemic, some countries are realising there have been unforeseen benefits. 

Vietnam’s nationwide isolation has seen a drop in crime, Hong Kong has hailed an early end to its annual flu season — and now, Thailand is seeing a much-needed win in road safety. 

“Accidents have gone down quite a lot,” said Banjerd Premjit, chief of the Por Tek Tung emergency medical team operating just outside Bangkok.

In Pathum Thani province, where his team of three ambulances normally rush to about 15 grisly crashes a night, accidents have dropped by half. 

The COVID-19 pandemic has changed the world. It is a truly global threat, ignoring national borders and domestic politics.

But this pandemic highlights the need for a global response to a second key global threat: climate change. It is now more important than ever to listen to the advice of experts before it’s too late.

Despite the current global economic shutdown, the global energy transition is well underway. This transition is being driven by renewable energy technology that disrupts incumbent industry business models, much like the rise of the mobile phone and the internet.

Technology disruption is fundamentally reshaping the global energy landscape. A key impetus is the dramatic, ongoing deflation in the cost of solar energy and battery storage.

Both have seen costs drop 80 to 90 per cent over the last decade and the Institute for Energy Economics and Financial Analysis (IEEFA) expects both to halve again in the coming …