News Snapshot:
Developing Asia was projected to contract less than the previous forecast as most economies relaxed containment measures despite the persistent spread of Covid-19, the Asian Development Bank said in its latest report, released Thursday. Developing Asia was expected to shrink 0.4 percent in 2020, less than the 0.7 percent contraction envisaged in the Asian Development Outlook 2020 Update in September. Growth will rebound to 6.8 percent in 2021, as previously estimated, the lender said. The ADB cautioned that a prolonged pandemic is still the main risk to the outlook, as it can derail recovery and undermine stability in some economies....
