U.N. urges $2.5 trillion in pandemic aid to developing nations

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A UN report notes that the two-thirds of the global population who live in developing countries face 'unprecedented economic damage' from the crisis. coronavirus

PROTECTION. Children wearing face masks sell masks to motorists amid concerns of the COVID-19 coronavirus in Banda Aceh on March 27, 2020. File photo by Chaideer Mahyuddin/AFP

In the two months since COVID-19 began spreading beyond China, developing countries have been hit hard by capital outflows, currency depreciations, and lost export earnings, notably from falling commodity prices and declining tourist revenues.

had"promised to do 'whatever it takes' to stop their firms and households from taking a heavy loss of income."

 

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