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TitleCosts and Trade-Offs in the Fight Against the COVID-19 Pandemic : A Developing Country Perspective
AuthorLoayza, Norman V.
SubjectCOVID 19
Date of Publication2020
PublisherWorld Bank
Number of Pages9 pages
LanguageEnglish
Geographical CoverageAfrica
KeywordsCOVID 19 Pandemic
AbstractThe world is experiencing the worst pandemic crisis in one hundred years. By mid-April 2020, more than 80 percent of countries around the world had imposed strict containment and mitigation measures to control the spread of the disease. The economic fallout has been immense, with dire consequences for poverty and welfare, particularly in developing countries. This Brief first documents the global economic contraction and its potential impact on developing countries regarding macroeconomic performance, poverty rates, and incomes of the poor and vulnerable. It then argues that the pandemic crisis may hurt low- and middle-income countries disproportionately because most of them lack the resources and capacity to deal with a systemic shock of this nature. Their large informal sectors, limited fiscal space, and poor governance make developing countries particularly vulnerable to the pandemic and the measures to contain it.
Copyright HolderWorld Bank
Copyright URLhttps://openknowledge.worldbank.org
Filesize790515 MB
File FormatPDF
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