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The Philippines is one of the world’s fastest-growing nations. Although economic activity slowed during the 2020 Covid-19 pandemic period, stimulus measures, imminent public sector policies and a larger budget are expected to create jobs, generate growth and help kick-start the country’s recovery during 2021.

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The pandemic has significantly accelerated the global spread of technologies associated with the so-called Fourth Industrial Revolution (4IR), among them artificial intelligence, the internet of things (IoT), big data and blockchain. In sub-Saharan Africa many now see the 4IR as key to the region’s recovery.

Most developing markets took a significant economic hit during the pandemic, while many traditional channels of lending have tightened. In this light, special drawing rights (SDRs) are emerging as an important tool available to governments to fund their Covid-19 responses and recoveries.

In what ways did the Covid-19 pandemic impact the insurance sector in Africa?

As a result of the economic fallout of Covid-19, emerging economies across the world are grappling with numerous challenges, including cash flow crises, the risk of prolonged recession and debt default. Many are looking towards development banks to help get their sustainable recoveries under way.

After rising to the challenge of the pandemic early last year, educational institutions in the Gulf have continued to develop their digital strategies as part of broader plans for the future.

Egypt, the only country in the Middle East and North Africa not to enter recession during 2020, already exhibited a strong acceleration in digitalisation during the years leading up to the pandemic. However, as with many countries in the region, the Covid-19 outbreak has led to unprecedented and fundamental changes across all industries, largely as a result of digitalisation.

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