The Economic Impact of COVID-19 in Low- and Middle-Income Countries
What are the channels of economic impact we can expect from COVID-19?
Center for Global Development (CGD) "As travelers cancel flights, businesses ask workers to stay home, and stocks fall, a global health crisis becomes a global economic crisis. In any health crisis, our first concern is (and should be) with the health of those affected. More than 4,000 people have died worldwide and more than 113,000 cases have been confirmed in over 110 countries. But unfortunately, the economic impacts also have dramatic effects on the wellbeing of families and communities. For vulnerable families, lost income due to an outbreak can translate to spikes in poverty, missed meals for children, and reduced access to healthcare far beyond COVID-19. While the spread in the United States and Europe absorbs much of the media coverage, confirmed cases from Bangladesh to Brazil, from Cameroon to Costa Rica, and in many other low- and middle-income countries mean that many of the economic impacts may affect the world’s most vulnerable populations." (Photo: Trade for Development/flickr, CC BY-NC-ND 2.0)