Economy News
Covid appears to be the ‘Achilles’ heel’ for Southeast Asian economies, says Jefferies

The failure to contain Covid infections is impeding the recovery of many Southeast Asian economies, says Sean Darby from Jefferies. “Indonesia, like many of the ASEAN economies, has yet to really get to grips with the Covid-19 virus,” Darby, global head of equity strategy at the U.S. investment bank, told CNBC’s “Squawk Box Asia” on Tuesday. “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.

News Source:- https://www.cnbc.com/2021/07/21/covid-appears-to-be-the-achilles-heel-for-southeast-asian-economies-says-jefferies.html