School closures during the pandemic have damaged children's knowledge in many G20 countries and could have a lasting economic impact with potentially 3% lower GDP in advanced economies, the IMF estimates.
Recent assessments of primary, middle and high school students and college students show that widespread virtual education during the pandemic has resulted in declining grade levels such as in India, Germany, the UK as well as Brazil and the United States. United States, where some establishments remained closed for more than a year.
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"
If these learning losses are not made up for, the students concerned could experience a drop in their income for life
", warns the International Monetary Fund (IMF) on Tuesday. Today's students will make up nearly 40% of working-age populations in G20 economies for decades to come.
“
While there are still a lot of unknowns, our simulations show that once all of these students are in the workforce, the gross domestic product of advanced G20 economies could be 3% lower in the long run
” compared to estimates that had been made before the pandemic.
Unsurprisingly, it is the poorest households that have suffered the worst learning losses with prospects that "
could be particularly diminished, further widening income inequality
".
“
Estimates suggest that if unfinished learning during the pandemic is not corrected, it could translate to 1.5% to 10% lost earnings over the lifetime for people
” in G20 countries.