COVID-19 is putting millions of micro, small and medium enterprises (MSMEs) in Southeast Asia in peril. This may be one of the biggest tragedies resulting from this pandemic given the size of the sector in the region.
- MSMEs are considered crucial to the future economic success of many South-East Asian countries;
- As a result of the COVID-19 pandemic, the IMF World Economic Outlook projects, GDP will fall to negative 6% for five of the Association of South-East Asian Nations (ASEAN) countries: Indonesia, Malaysia, Philippines, Thailand and Vietnam;
- Fintech is emerging as a crucial means of support for MSMEs during the pandemic as well as an opportunity to stimulate their growth in ways that benefit wider society.
As a result of COVID-19, the IMF World Economic Outlook projects GDP will fall to negative 6% for five of the Association of South-East Asian Nations (ASEAN) countries: Indonesia,…
