The Pandemic Pain of Emerging Markets
As COVID-19 continues its global march, the whole world is paying the price for some countries' negligent and incompetent political leadership and the virtual breakdown of the rules-based multilateral order. But emerging and developing economies are likely to suffer the most.
CAMBRIDGE – The public-health and economic consequences of the COVID-19 pandemic have varied across countries. This is true even among emerging-market and developing economies (EMDEs), which, compared to advanced economies, have higher poverty rates, poorer health care, and a lower share of jobs that can be performed remotely.