Poorest Nations Need $436 Billion to Tackle Covid Aftermath, IMF Says
- Funds would also help bolster reserves, grow incomes, IMF says
- Pandemic, war in Ukraine especially hurt 69 poorest countries
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The world’s 69 poorest countries need an extra $436 billion over five years to address the aftermath of Covid-19, rebuild external buffers and grow incomes, the International Monetary Fund said.
Of that amount, $170 billion is to tackle the effects of the pandemic, such as loss of learning and worsening poverty, and bolster reserves. The rest is required to help low-income nations catch up with emerging markets’ average ratio of spending relative to gross domestic product by 2026, the Washington-based lender said in a report released Thursday.