Viet Nam among safe economies after COVID-19: Economist

Monday, May 04, 2020 18:08

Viet Nam ranks 12th among 66 economies. — Photo

The Economist listed Viet Nam as the 12th strongest economy among 66 economies in its report on financial strength in the wake of the COVID-19 fallout.

The ranking is based on four measures of financial strength, which are public debt, foreign debt and cost of borrowing and reserve cover.

Viet Nam is in the safe group thanks to stable and strong financial indicators.

Accordingly, more than 30 emerging economies are facing great pressure, the worst being Lebanon and Venezuela.

Botswana tops the list with safe economies, followed by Taiwan and South Korea.

The Economist said that most of the economies were strong enough to overcome the pandemic. The 30 weakest economies was relatively small, accounting for only 11 per cent of the total gross domestic product (GDP) of the 66 economies.

The International Monetary Fund (IMF) estimated that to overcome the COVID-19 crisis, emerging economies need at least US$2.5 trillion from foreign sources or domestic reserves. — VNS

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