A discussion with Chang Yong Rhee, Director of the Asia and Pacific Department at the IMF
The global economy, says the International Monetary Fund, is projected to shrink by 4.9 percent in 2020. The COVID-19 pandemic has had a more negative impact on economic activity in the first half of 2020 than anticipated, and the recovery is projected to be more gradual than previously forecasted.
Strong multilateral cooperation remains essential on multiple fronts. Beyond the pandemic, policymakers must cooperate to resolve trade and technology tensions that endanger an eventual recovery from the COVID-19 crisis.
Please join Fredrik Erixon in his discussion with Chang Yong Rhee, Director of the Asia and Pacific Department at the IMF, as he discusses prospects and policy challenges for Asian economies.
– What are the economic effects of the COVID-19 crisis in Asian economies?
– What are the main risks to the outlook?
– And what economic policy actions countries should undertake to reduce scarring effects?
The discussion is based on data presented in World Economic Outlook Update published by the IMF in June 2020.
About the speaker: Changyong Rhee is the Director of the Asia and Pacific Department at the IMF, where he oversees the Fund’s work on the region, including its lending operations and bilateral and multilateral surveillance of economies ranging from China, Japan, and India to the Pacific Islands.