Saturday, February 06, 2021

The Lost Decade - The Lost Generation

 International Monetary Fund Managing Director Kristalina Georgieva told reporters  advanced economies had spent about 24% of GDP on average on support measures during the pandemic, compared to 6% in emerging markets and 2% in low-income countries.

Georgieva said vaccination efforts were uneven, with poor countries facing “tremendous difficulties” even as official development funds were going down.

Only one country in Africa - Morocco - had begun vaccinating its citizens, she said.

Setbacks for living standards in developing countries would make it much more difficult to achieve stability and security for the rest of the world, she said.

“What is the risk? Social unrest. You can call it a lost decade. It may be a lost generation,” she said.

IMF chief warns of "lost generation" if low-income countries don't get more help | Reuters

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