Vietnam ranks 12th among 66 emerging economies in Covid-19 fallout

Kim Anh Monday | 05/04/2020 22:56

A farmer rides a bycycle past a poster warning about the coronavirus disease outbreak in Hanoi on Wednesday. (Reuters photo)

Vietnam was placed as the 12th strongest economy out of 66 emerging economies in the wake of the Covid-19 fallout, according to the Economist.

The leading source of analysis on international business and world affairs examined the vulnerability of selected economies across four potential sources of peril including public debt as percentage of GDP, foreign debt (both public and private), cost of borrowing, and reserve cover.

Accordingly, the Vietnamese economy has featured as relatively strong and stable in all indicators and is among the least affected by the current COVID 19 crisis.

Botswana tops the list of countries with the strength of its indicators while Venezuela fared as most vulnerable.

To weather the crisis, emerging economies may need at least US$2.5 trillion, the fund reckons, from foreign sources or their own reserves. One way to ensure countries have more hard currency is to stop taking it from them.