Abstract/Description

The second day of the 1st International Conference at the CBER, IBA Karachi commenced with an opening address by the Chief Economist at the Asian Development Bank (ADB), Mr. Yasuyuki Sawada. Speaking about the outbreak of the Covid-19 virus and how it has destabilized the economic outlook and widened existing social inequalities, impacting lives and livelihoods of millions in Asia-Pacific region and beyond, Sawada remarked, “Regional GDP contracted by 0.2% in 2020 with East Asia faring much better. After a sharp contraction last year, growth in South Asia will rebound in 2021. However, the recovery will be uneven”. Dr. Sawada’s presentation ended with some key messages which included emphasis on digitalization as it has the potential to transform work and can drive the region's recovery. He strongly suggested that authorities must adapt Covid-19 responses to address longer-term challenges and build back better in which ADB is ready to support its members to help build a prosperous, inclusive, resilient and sustainable Asia and the Pacific. The session ended with a Q & A session with faculty and research students at the IBA.

Session Type

Presentation

Session Discussant

Dr. Laila Farooq, Director, Center of Business and Economic Research (CBER), Institute of Business Administration, Karachi

Session Moderator

Sarah Nizamani, Research Fellow, Center of Business and Economic Research (CBER), Institute of Business Administration, Karachi

Event Website

https://esdcber.iba.edu.pk/

Start Date

3-4-2021 10:00 AM

End Date

3-4-2021 10:45 AM

Comments

Speaker: Yasuyuki Sawada, Chief Economist – Asian Development Bank (ADB)

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Apr 3rd, 10:00 AM Apr 3rd, 10:45 AM

Sustainable Economic Development in the Post-Covid Era in Asia and the Pacific

The second day of the 1st International Conference at the CBER, IBA Karachi commenced with an opening address by the Chief Economist at the Asian Development Bank (ADB), Mr. Yasuyuki Sawada. Speaking about the outbreak of the Covid-19 virus and how it has destabilized the economic outlook and widened existing social inequalities, impacting lives and livelihoods of millions in Asia-Pacific region and beyond, Sawada remarked, “Regional GDP contracted by 0.2% in 2020 with East Asia faring much better. After a sharp contraction last year, growth in South Asia will rebound in 2021. However, the recovery will be uneven”. Dr. Sawada’s presentation ended with some key messages which included emphasis on digitalization as it has the potential to transform work and can drive the region's recovery. He strongly suggested that authorities must adapt Covid-19 responses to address longer-term challenges and build back better in which ADB is ready to support its members to help build a prosperous, inclusive, resilient and sustainable Asia and the Pacific. The session ended with a Q & A session with faculty and research students at the IBA.

https://ir.iba.edu.pk/esdcber/2021/day2/1