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. […]

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