The damage to be inflicted by the COVID-19 pandemic on the Philippine economy will be like a “long scar” that can take longer to heal, according to UK-based Oxford Economics.
The Philippines, Peru, Colombia and Spain “appear most vulnerable” to “long-COVID scars,” said Oxford Economics head of global strategy and emerging market macro research Gabriel Sterne and economist Tianchen Peng in a Dec. 3 report titled “Calibrating long-COVID vulnerabilities in 162 economies.”
Among emerging markets, the Philippines scored the highest—a seven out of 10 in the think tank’s vulnerability score across 31 metrics, which measured policy offsets, economic and financial imbalances, health-relat…
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