Un-Sana
The United Nations today called for the provision of a $ 2.5 trillion financial support package for developing countries that have faced unprecedented economic damage as a result of the outbreak of the new Corna epidemic.
Mojisa Kitwe, Secretary-General of the United Nations Conference on Trade and Development, "UNCTAD" said that the economic repercussions resulting from the shock are continuous and difficult to predict, indicating that there are clear indications that things will "get worse" for developing economies before they improve again, according to what was published on the United Nations website.
A UNCTAD report shows that in the two months since Covid 19 began to spread outside China, developing countries have suffered a great blow in terms of foreign capital flows and in terms of the devaluation of the local currency and losses in their export earnings, including lower commodity prices and lower tourism receipts.
In most of these measures, the impact on developing countries this time was "more profound than the financial crisis in 2008", according to the UN report.
The organization also expressed its lack of optimism, especially with the activities of local economies affected by the crisis, with the possibility of the kind of rapid recovery witnessed by many developing countries between 2009 and 2010.