Moody’s estimates pandemic impact on different countries
The coronavirus outbreak has delivered a severe blow to various economies worldwide. It has been a year already. The recovery seems inevitable and many countries have even declared victory over the deadly virus. However, it was rather premature. The virus is evolving and far more dangerous variants are now posing a threat to smooth and quick economic revival. Yet, the created vaccines and restrictive measures have proven to be an efficient weapon against the virus. Some countries use it far more successfully than others.
Moody’s has recently made research where it indicated countries more resilient to new coronavirus threats. First thing first, the agency stresses that states with high vaccination rates and introduced stimulus measures are more likely to escape the calamity of the coronavirus crisis. At the same time, countries that are highly dependent on individual sectors such as tourism will face significant difficulties.
According to Moody's, countries with emerging economies are the most vulnerable to the negative consequences of the coronavirus crisis. States with a high debt burden, e.g. Sri Lanka, Suriname, Laos, India, Tunisia, and Peru are likely to leak the wounds far longer than others.
The US, China, and EU countries are dealing with the pandemic quite well. Yet, their response was rather slow. It took far more time for them to tackle the virus. So, their approach can hardly be called effective.
Such countries as South Korea, China, and Singapore battled the coronavirus more efficiently. Strict quarantine restrictions at the very first stage allowed hospitals to cope better with the virus.
In addition, Moody’s estimated pandemic impact on Russia, Mexico, Brazil, and Australia as moderate.