Covid-19 Is Preventing Sustainable Investment In Developing Nations

Covid-19 has occupied most of our attention in 2020, and for good reason. We’ve had over 70 million infections, about 1.6 million deaths, and hundreds of thousands more contracting the disease every day. That said, yesteryear’s issues persist, such as our ongoing climate crisis and countries’ attempts at developing their economies to be more sustainable. Covid-19’s economic devastation stripped nations of their sustainable growth financing. The world’s economic powers must step in to fill the gaps.

All countries, regardless of economic size, have struggled in the wake of the pandemic. As borders closed, workers stayed home, and social activity seized, the global economy experienced its worst downfall since the 1930s. Developing countries, however, faced a particularly severe crash. According to the United Nations Development Program, the average income lost for a developing country because of Covid-19 will exceed $200 billion. 

Read the full article on Forbes.

© William A. Haseltine, PhD. All Rights Reserved.