IMF and World Bank data project increasing inequality between countries
When the coronavirus started to spread around the world, the feeling that anyone could be hit equally seemed to be consensus. The reality, however, has been shown to be different. Countries with extensive testing capabilities and good health systems have fared better than others. The discrepancies among the infected population also deserve attention: in New York, the virus is twice as deadly among blacks and Latinos, compared to whites, due to structural differences in access to health in society.
As a result of these differences, recent data from international organizations has warned that the pandemic may deepen the imbalance between rich and poor nations. Another consequence: the increase in extreme poverty, the first global increase in the index since 1998.
The International Monetary Fund’s projections show that rich countries are investing more than emerging and poor countries in responses to the coronavirus. While the seven most industrialized countries in the world invest almost 6% of GDP in stimulus plans, the members of the G-20, which includes emerging countries like Brazil, invest on average 3.5%.
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