Development finance landscape in times of the COVID-19 pandemic
![image of Development finance landscape in times of the COVID-19 pandemic image of Development finance landscape in times of the COVID-19 pandemic](/docserver/fulltext/9789210019316/9789210019316_fc.jpg)
- Author: United Nations Conference on Trade and Development
- Main Title: Impact of the COVID-19 Pandemic on Trade and Development , pp 45-55
- Publication Date: October 2022
- DOI: https://doi.org/10.18356/9789210019316c008
- Language: English
As has been seen in the case of previous external shocks, the COVID-19 pandemic has put pressure on the financing possibilities of developing countries. The financing requirements of developing countries to combat the crisis and stabilize the financial situation have been estimated by the IMF at around $2.5 trillion (Georgieva, 2020). The economic shock developing countries suffered in second quarter of 2020 was unprecedented. Net portfolio outflows from the main emerging economies amounted to around $60 billion in just one month. This is more than double what these countries experienced in the immediate aftermath of the global financial crisis of 2008/09. The spreads on developing country bonds have risen sharply, currencies have depreciated strongly, exports of developing countries dropped precipitously, and commodity prices also weakened (UNCTAD, 2020e).
-
From This Site
/content/books/9789210019316c008dcterms_title,dcterms_subject,pub_keyword-contentType:Journal -contentType:Contributor -contentType:Concept -contentType:Institution105