How is the corona virus destroying the economies of developing countries?
How is the corona virus destroying the economies of developing countries? The world is witnessing a sharp decline in economic performance due to the corona virus epidemic. Developing countries will certainly be hit hard by the recession, which the International Monetary Fund has described as the biggest economic crisis since the Great Depression of the 1930s. Almost every country in the world has been affected. The IMF fears that 170 countries, rich and poor, will face a decline in per capita economic activity this year. This means that the average standard of living will decline. The epidemic is affecting developing countries in many ways. Raw material prices Many countries export goods used by industries. Demand for this specialty has grown significantly as a result of recent corporate scandals, with prices falling and, in some cases, falling sharply. Oil is the greatest example of this. Demand for this specialty has dropped significantly as the Corona virus ...