International Development

International Development. By Harrison Hamm and Chloe Dailey.

Rising levels of poverty The crisis could push tens of millions of people back into poverty. 38 36 32 30 2010 Source: World Bank Povcalnet. 2013 457.7 32.1 2019 489.6 34.3 5% 522.2 36.6 10% 551.6 15% 400 300 200 100 % of Total Population Contraction Contraction Contraciton —Number of Poor (right axis) Note: Poverty line defined at 2011 PPP $1.9/day. Scenarios are based on contraction in per capita household consumption. Figures exclude Afghanistan, Cambodia, Eritrea, and Somalia. INTERNATIONAL MONETARY FUND.

WANTED.

COVID-related fiscal support measures Low-income developing countries could afford less fiscal support than advanced and emerging economies. (in % of 2020 GDR PPP GDP-Weighted) 9 7.9 8 7 6 5 4 3 2 0.9 1 Advanced Economies Other Sectors Health Sector 3.4 0.3 Emerging Economies 1.4 0.6 Low-Income Countries Source: Policy Responses to COVID-19 database (IMF). Note: Fiscal Support refers to above-the-line or on-budget measures announced with a high likelihood of passage/implementation. INTERNATIONAL MONETARY FUND.

Figure 2: The Five Phases of the Pandemic Economy The five phases of pandemic economy Early warning Preparation: E"ensc and the iS bet ta affected Emergency Response: Ep.demjc growth accelerates. and economy contracts. Epidemic alleviation Trough: Eptdqmx decektates. the econonw temxns a trough. Time Recovery: Eptdetmc ts contorted at low the ec«wmy recovers pdualty, vacci•auoa•. Vaccne ts and 'Paneemx Economy'.

Figure 3: Current Pandemic-Economy Phases of 131 Countries and Regions days 70 Countries in Response & Trough Phases 62 88 4S Countries in Recovery Phase.

Works Cited. Cohen, Patricia, and Alan Rappeport. “World's Growth Cools and the Rich-Poor Divide Widens.” The New York Times , The New York Times, 12 Oct. 2021, https://www.nytimes.com/2021/10/12/business/economy/imf-world-economic-outlook.html. “Covid-19: Without Help, Low-Income Developing Countries Risk a Lost Decade.” IMF Blog , 6 July 2021, https://blogs.imf.org/2020/08/27/covid-19-without-help-low-income-developing-countries-risk-a-lost-decade/. “Graphing the Pandemic Economy.” Council on Foreign Relations , Council on Foreign Relations, https://www.cfr.org/article/graphing-pandemic-economy. Pike, Lili. “China's Summer of Floods Is a Preview of Climate Disasters to Come.” Inside Climate News , 30 Nov. 2020, https://insideclimatenews.org/news/17082020/china-floods-climate-change-extreme-weather/. “Texas Economy on a Post-Pandemic Recovery Path.” Texas A&M Today , 7 July 2021, https://today.tamu.edu/2021/07/07/texas-economy-on-a-post-pandemic-recovery-path/..