Business Standard

Tuesday, December 24, 2024 | 10:56 AM ISTEN Hindi

Notification Icon
userprofile IconSearch

How the US can support developing countries fighting Covid-19 for $0

The economic fallout from the pandemic is also a challenge, particularly for governments like Nigeria whose economy, like the majority of African countries, is largely commodity dependent

Photo: Shutterstock
Premium

Steep declines in aggregate demand and commodity prices as a result of COVID-19 and the world recession have caused economic strain and bloated fiscal deficits. Photo: Shutterstock

Charles Kwuelum | FPIF
As the world seeks to mitigate economic fallout from the COVID-19 global pandemic and its unprecedented disruptions, the United States has, to date, prioritized its domestic challenges, largely abandoning its traditional role as a provider of humanitarian assistance during times of international crisis.

On July 31, the House of Representatives took an important step toward remedying this neglect, and passed legislation in support of the International Monetary Fund (IMF) issuing 2 trillion Special Drawing Rights (SDRs), a reserve currency that can be exchanged for dollars, to ensure that low- and middle-income countries have the resources to tackle the human and

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in