Weaker economic recovery in Southeast Asia - IMF | Sunday Observer

Weaker economic recovery in Southeast Asia - IMF

18 April, 2021

SINGAPORE — The International Monetary Fund (IMF) downgraded its forecasts for several Southeast Asian economies even as it turned more optimistic about the global economy and Asia-Pacific more broadly. The IMF expects the five largest developing economies in Southeast Asia to collectively grow by 4.9% in 2021, down from its previous projection of 5.2%. Those five economies are Indonesia, Malaysia, the Philippines, Thailand and Vietnam. IMF’s deputy director of the Asia and Pacific department, Jonathan Ostry, said on Wednesday that an increase in Covid cases and renewed lockdowns are dampening the economic prospects of some Southeast Asian countries.