The Pandemic Crisis Will Worsen Global Inequality
The pandemic puts as many as 160 million jobs in tourism, manufacturing and commodity sectors in developing countries at risk, potentially threatening economic growth and decent jobs as envisaged in SDG-8. Massive job losses—especially loss of relatively well-paying jobs—will likely worsen inequality, both within and between countries. Governments in developing countries lack necessary fiscal resources to fight the pandemic and minimize the fallout of the worst recession in decades. Robust and coordinated development cooperation will remain critical to ensure that developing countries can weather the storm and accelerate sustainable development of their economies.