Both of these countries have undertaken the largest interest rate cuts out of all the countries in the region. Pakistan is also among the countries in the group that have allowed their exchange rate to operate as a shock absorber, despite some interventions, the report notes. The MCD region did not see the sharp spike in infections that the countries of the western hemisphere division reported, or the countries of the European division. But the graph in MCD countries continues to climb where the others plateaued out, or showed a sharp drop as in Europe. Africa and Asia Pacific division countries showed even smaller rates of infection, with no appreciable increase as the pandemic spread.

Source: The North Africa Journal July 14, 2020 01:52 UTC