The International Monetary Fund on Tuesday cut this year's economic growth forecast for emerging Asia, as a spike in coronavirus cases from new variants and slow vaccinations cloud the region's recovery prospects.
The downgrade, which contrasted with an upward revision in the IMF's forecast for advanced nations, highlights the divergence emerging across countries on the pace of recovery from pandemic-induced strains.
"Similar dynamics are at work in the ASEAN-5 group...where recent infection waves are causing a drag on activity," it said.
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