Income Recovery Diverges Amongst Emerging Markets and Developing Economies

Income recovery diverges amongst emerging markets and developing economies.

Document Highlights

While the pace of vaccinations has picked up in recent weeks in several emerging markets, including Latin America, low overall vaccination rates remain a risk to the short-term outlook. Renewed outbreaks of COVID-19, as seen in Southeast Asia, act as a break on confidence. In stark contrast to the postglobal financial crisis period of 2008/09, the recovery of incomes to prerecession levels in many emerging markets and developing economies will be much more subdued.