- Analytics
- News and Tools
- Market News
- Covid appears to be the ‘Achilles’ heel’ for Southeast Asian economies - Jefferies
Covid appears to be the ‘Achilles’ heel’ for Southeast Asian economies - Jefferies
CNBC reports that Sean Darby, global head of equity strategy at Jefferies, said that the failure to contain Covid infections is impeding the recovery of many Southeast Asian economies.
“Indonesia, like many of the ASEAN economies, has yet to really get to grips with the Covid-19 virus,” Darby told CNBC.
“That seems to be the Achilles heel for the ASEAN economies at the moment,” he said referring to Association of Southeast Asian Nations regional grouping.
Goldman Sachs recently slashed its 2021 growth forecasts for major economies in Southeast Asia as a surge in the more infectious delta variant triggered daily record highs in infections in Indonesia, Malaysia and Thailand these past weeks.
The surge in infections regionally has also called into question the credit ratings of South East Asia’s economies.
Moody’s Investors Service warned Monday that resurgent Covid infections in Indonesia could undermine the country’s credit rating.
Days earlier, S&P Global Ratings issued similar comments, warning in a July 15 report that Indonesia’s “existing credit buffers on ratings will be chipped away if ongoing lockdowns are prolonged.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
