Yet the countries IMF analysts say they are most concerned about have only been able to trickle out support: Many African and Latin American economies have failed to reach even a few billion dollars in fiscal aid, according to IMF data and reporting from more than 60 countries collated by Bloomberg News.
(Apr 24): As governments dedicate more than US$8 trillion ($11.39 trillion) to fight the Covid-19 pandemic, a further widening in the gap between rich and poor countries threatens to exacerbate the global economy’s pain.
Wealthy nations have dug deep to cushion the blow. For instance, Germany and Italy have each allocated more than 30% of gross domestic product to direct spending, bank guarantees and loan and equity injections for a combined US$1.84 trillion in aid, figures from the International Monetary Fund (IMF) show.
