As Asian economies take on public debt to combat Covid-19, who will foot the bill?

In May, when Singapore tightened its measures for four weeks to combat a surge in Covid-19 cases, it cost the government S$800 million (US$591 million) in relief measures. The money helped businesses, including fitness studios, performing arts organisations and eateries, survive that month of harsher rules.Across the border, Malaysia recently unveiled a 150 billion ringgit (US$35 billion) package, made up of cash aid and wage subsidies, after extending a nationwide lockdown indefinitely.In…