Economists are expressing concern over how the World Bank and the International Monetary Fund have failed to support less affluent countries through the epidemic.
Despite promises this year by these two deep-pocketed organizations to help poor countries through the epidemic, funding has slowed materially.
The World Bank has doubled its lending in the first seven months of 2020 compared to the same period last year, but it has been slow to distribute the money, accordingly. The research From the Center for Global Development. Of the $ 280 billion loaned by the IMF, only $ 11 billion has been sent to low-income countries.
Economists are warning that extreme relief is needed to prevent humanitarian devastation in poor countries, and to ensure that 60 percent of the world is classified by the IMF as an emerging market, not a permanent loss. It delivers.
If no serious steps are taken, the epidemic could push 150 million people into extreme poverty by next year The World Bank has warnedFirst growth in two decades.
“A lost decade of development in large parts of the world is an important possibility absent immediate, concrete and sustained policy response.” recent report Groups of international finance experts, from a group of 30.