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South Asia Economic Focus, Spring 2020 : The Cursed Blessing of Public Banks

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collection.link.216
https://openknowledge.worldbank.org/handle/10986/11978
collection.name.216
South Asia Economic Focus
dc.contributor.author
World Bank
dc.date.accessioned
2020-03-25T16:42:32Z
dc.date.available
2020-03-25T16:42:32Z
dc.date.issued
2020-04-12
dc.date.lastModified
2021-05-25T09:33:40Z
dc.description.abstract
The unprecedented COVID-19 crisis comes with a dire economic outlook. South Asia might well experience its worst economic performance in 40 years. The harsh reality of inequality in South Asia is that poor people are more likely to become infected with the coronavirus, as social distancing is difficult to implement for them. They also have less access to health care or even soap, are more likely to have lost their job, and are more vulnerable to spikes in food prices. The unfolding economic crisis is unique in several ways. This report estimates that regional growth will fall to a range between 1.8 and 2.8 percent in 2020, down from 6.3 percent projected six months ago. The dire forecast is based on the analysis of several adverse impacts. South Asia finds itself in a perfect storm. Tourism has dried up, supply chains have been disrupted, demand for garments has collapsed, consumer and investor sentiments have deteriorated, international capital is being withdrawn and inflows of remittances are being disrupted. On top of the deterioration of the international environment, the lockdown in most countries has frozen large parts of the domestic economy. Public banks, discussed in the focus chapter of this edition, were at the center of weaknesses in financial sectors that accumulated during recent years. However, during this crisis, they might be part of the solution by providing countercyclical lending to the most vulnerable parts of the economy.
en
dc.identifier
http://documents.worldbank.org/curated/en/551641586789758259/South-Asia-Economic-Focus-Spring-2020-The-Cursed-Blessing-of-Public-Banks
dc.identifier.isbn
978-1-4648-1566-9
dc.identifier.uri
http://hdl.handle.net/10986/33478
dc.publisher
Washington, DC: World Bank
dc.rights
CC BY 3.0 IGO
dc.rights.holder
World Bank
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo
dc.subject
ECONOMIC GROWTH
dc.subject
ECONOMIC OUTLOOK
dc.subject
ECONOMIC POLICY
dc.subject
ECONOMIC SHOCK
dc.subject
FISCAL TRENDS
dc.subject
MONETARY POLICY
dc.subject
CORONAVIRUS
dc.subject
COVID-19
dc.title
South Asia Economic Focus, Spring 2020
en
dc.title.subtitle
The Cursed Blessing of Public Banks
en
dc.type
Serial
en
okr.crossref.title
South Asia Economic Focus, Spring 2020 : The Cursed Blessing of Public Banks
okr.date.disclosure
2020-04-12
okr.doctype
Publications & Research
okr.doctype
Publications & Research :: Publication
okr.googlescholar.linkpresent
yes
okr.identifier.doi
10.1016/978-1-4648-1566-9
okr.identifier.doi
10.1596/978-1-4648-1566-9
okr.identifier.report
147591
okr.language.supported
en
okr.region.administrative
South Asia
okr.region.geographical
South Asia
okr.topic
Macroeconomics and Economic Growth :: Economic Conditions and Volatility
okr.topic
Macroeconomics and Economic Growth :: Economic Growth
okr.topic
Macroeconomics and Economic Growth :: Fiscal & Monetary Policy
okr.topic
Poverty Reduction :: Achieving Shared Growth
okr.topic
Social Protections and Labor :: Labor Markets
okr.unit
SARCE

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