• BLOG SURF
The outlook for people in developing countries remains grim. The COVID-19 pandemic and related shutdowns are challenging the effectiveness of civil and institutional structures around the world and adding to fragility and violence, resulting in interrelated crises for foreign policy, development, and economics. Our estimates show that hundreds of millions of families are suffering reversals in development and the most significant economic crisis in almost a century. Indicators of poverty, growth, inequality, nutrition, education, and security are all rapidly deteriorating rather than improving.
Inequality has worsened, both within and across borders, with fiscal and monetary policies exacerbating inequality by favoring the rich while leaving poorer people and countries behind. People on the bottom face shortcomings within their own governmental systems and weaknesses in global institutions. They unfairly bear the brunt of multiple global crises over which they have little control or responsibility. - blog.wb.org/blogs
A version of this article appears in the print on February 28 2022, of The Himalayan Times.
