The Covid-19 pandemic has markedly disrupted the global economic system and daily life, sending countries into various degrees of economic recession. The pandemic has also further exacerbated poverty rates and global inequality.
Half of low-income countries were already in economic turmoil and at high risk of debt distress leading up to the pandemic, only to be overwhelmed by the economic contraction caused by both the pandemic and the health measures used to contain the virus (e.g., lockdowns, limits on movements). The international community and the United States will have to take concrete actions to help lower-income countries manage the economic consequences of the pandemic and provide assistance with debt relief in order to prevent future impediments to development efforts and financial and economic distress.
Join World Bank Group President David Malpass and Dan Runde, Senior Vice President, William A. Schreyer Chair and Director, Project on Prosperity and Development at CSIS, for a webinar discussion on the issue and possible solutions.