How Developing Countries Can Manage the COVID-19 Economic Impact

Author
Matthew Eldridge
Content Type
Commentary and Analysis
Institution
Urban Institute
Abstract
Even as many developing countries are confronting the health impacts of the COVID-19 pandemic, they are already bracing for the widespread, global recession that will follow. These countries already struggle to provide many services and supports to their citizens, and although the emergency assistance packages of international financial institutions are a start, they alone won’t be enough to mitigate the economic impact of COVID-19 and enable a strong recovery. Although most developing countries escaped the 2007–08 financial crisis with limited damage, for many, this economic downturn is expected to be much worse because of the direct health effects, the sharp decline in global economic activity, the structural composition of their economies, and constrained policy options.
Topic
Development, Economics, Pandemic, COVID-19
Political Geography
Global Focus