Oil demand lifts prices, but further upside is limited

Brent futures near USD60 per barrel will bolster non-OPEC output and relieve oil firms and oil-producing states alike

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ECB has further scope to support spending

The COVID-19 crisis has escalated since the ECB stepped up its response to the coronavirus crisis on December 10

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The economy has avoided a crash but can expect only a modest rebound

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GDP contracted by an estimated 5.8% in 2020 as a result of the pandemic, notably due to the impact on tourism

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Prime Minister Imran Khan is under pressure from an opposition alliance

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New reform plans will struggle to address long-standing structural problems as well as the revenue impact of COVID-19

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Limited debt reprofiling with Chinese creditors raises chances of sovereign default over the medium term

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The rising prevalence of unproductive firms casts a shadow over the corporate landscape and limits productivity growth

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Government support measures have not been enough to protect the middle class, a key factor in consumption and growth

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Agriculture is the one sector that seems impervious to Russia's sense of economic malaise

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