Covid-19: the pandemic worsens the plight of poor and emerging countries

IMF Managing Director Kristalina Georgieva in Davos, Switzerland, January 20, 2020. REUTERS / Denis Balibouse

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IMF President Kristalina Georgieva once again warns of the economic consequences of the health crisis.

The coronavirus pandemic is worsening the plight of people in poor and developing countries, and deepening inequalities with people in rich countries. 

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The pandemic continues to wreak havoc in poor and developing countries.

Since the start of the first confinement, the crisis has resulted in loss of income for its populations who have lost their jobs or seen their wages decrease.

According to IMF President Kristalina Georgieva, women, young people and low-skilled workers are the most affected.

The health crisis will push millions of people into

extreme poverty

in these developing countries.

According to the IMF, per capita income is expected to fall by 22% by the end of 2022, compared to a

drop of 13%

for rich countries.

As for emerging economies, except China, this drop will be 18%.

Another difficulty for poor countries is access to the anti-Covid vaccine to counter the epidemic.

These countries will have difficulty obtaining them and administering them to their populations.

They come up against their excessively high prices, but also the lack of infrastructure necessary for transport and storage, in particular for RNA vaccines which must be stored at very low temperature.

To help them achieve this, the IMF President urges the G20 countries to provide them with financial support.

This issue should be addressed at the next G20 Finance to be held at the end of this week.

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See also: Covid-19: no end of the pandemic without equitable access to the vaccine, according to experts

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  • IMF

  • Poverty

  • Coronavirus

  • Vaccines

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