How COVID-19 Will Increase Inequality in Emerging Markets and Developing Economies

2020-10-30T15:49:14-04:00October 29, 2020|

By Gabriela Cugat and Futoshi Narita

عربي, 中文, Español, Français, 日本語, Português, Русский 

Emerging markets and developing economies grew consistently in the two decades before the COVID-19 pandemic hit, allowing for much-needed gains in poverty reduction and life expectancy. The crisis now puts much of that progress at risk while further widening the gap between rich and poor.

Despite the pre-pandemic gains in poverty reduction and lifespans, many of these countries have struggled to reduce income inequality. At the same time, they saw persistently high shares of inactive youth (i.e., those not […]

A Long, Uneven and Uncertain Ascent

2020-11-16T10:48:03-05:00October 13, 2020|

By Gita Gopinath

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The COVID-19 pandemic continues to spread with over 1 million lives tragically lost so far. Living with the novel coronavirus has been a challenge like no other, but the world is adapting. As a result of eased lockdowns and the rapid deployment of policy support at an unprecedented scale by central banks and governments around the world, the global economy is coming back from the depths of its collapse in the first half of this year. Employment has partially rebounded after having plummeted during […]

How Pandemics Leave the Poor Even Farther Behind

2020-06-01T12:00:09-04:00May 11, 2020|

By Davide Furceri, Prakash Loungani, Jonathan D. Ostry

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The COVID-19 crisis is now widely seen as the greatest economic calamity since the Great Depression. In January, the IMF expected global income to grow 3 percent; it is now forecast to fall 3 percent, much worse than during the Great Recession of 2008-09. Behind this dire statistic is an even grimmer possibility: if past pandemics are any guide, the toll on poorer and vulnerable segments of society will be several times worse. […]

A Post-Coronavirus Recovery in Asia—Extending a “Whatever it Takes” Lifeline to Small Businesses

2020-04-29T08:30:24-04:00April 23, 2020|

By Kenneth Kang and Changyong Rhee

عربي, 中文, Français, 日本語, Русский

Asia was hit hard by the first wave of the coronavirus, as the sudden stop in activity struck households and firms simultaneously—first in China, then elsewhere in Asia, and now globally. Policymakers responded swiftly with aggressive spending to support the medical response and vulnerable households and firms. And central banks took swift actions to expand liquidity.

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