Source: International Monetary Fund – IMF (video statements)
Join us on Thursday, October 29 at 7:30 AM EDT (3:30PM GET and 5:30 PM ALMT) for a presentation and discussion on the economic outlook for the Caucasus and Central Asia. https://www.imf.org/…/regional-economic-outlook-menap-cca
In response to the COVID-19 pandemic, the countries of the Caucasus and Central Asia (CCA) region took swift and stringent measures to mitigate the spread and impact of the virus. This came at a steep economic cost, as the region faces a “double-whammy” economic impact from lockdowns and either a sharp decline in oil income for oil exporters, or from lower remittances and tourism income for many oil importers. Furthermore, the global recovery remains uncertain, uneven, and prone to setbacks. There is also sizeable uncertainty surrounding the evolution of the pandemic, the outlook for contact-intensive sectors, and financial market sentiment.