The Economic and Financial Effect of Covid19 on Developed and Developing Countries - Phdassistance.com
                     THE ECONOMIC AND
FINANCIAL EFFECT OF
COVID19 ON DEVELOPED AND
DEVELOPING COUNTRIES
An Academic presentation by
Dr. Nancy Agens, Head, Technical Operations, 
GPhroduaps s iwstwawn.cpehdassistance.com
Email: [email protected]
TODAY'S DISCUSSION
Outlin Introduction
e Our Global Economy Hits Hard than Expected 
General Financial Impact of a Virus in the Society 
Prediction of the United Nations for 2020 Pandemic 
Global Economic Effects of COVID – 19 
Conclusion
Introduction
The trending yet troublesome coronavirus pandemic (COVID – 19) is having a huge impact 
on the economic and financial status of countries.
The level of impact varies across the developmental strata of the nation.
We are not new to get financial damages from a virus:
Middle East Respiratory Syndrome coronavirus in 2012
Ebola virus disease from 2013 lasting till 2016
Zika virus in 2015
Contd
..
But then, when it comes to a novel disease like coronavirus, it deems to 
be a pandemic.
And hence, the demand for resources, food, medicines, insurance, etc. is 
much higher than usual.
FACTOID 1: Mandatory quarantine and closing the nation’s borders are 
some of the impactful strategies followed by poorest countries of the world 
such as Latin America, Asia and Africa.
Our Global Economy Hits Hard than 
Expected
With the immense count of efforts and dedication from several leaders and workers, 
almost the majority of the world nations have been Financially and Economically hit hard.
About 1,853,464 cases (ASN, 2020) of COVID – 19 has been estimated, as of now. 
Out of which, 114,254 are the lost lives counted in the trajectory.
FACTOID 2: Spending money over resilient health system protocols is both cost- 
effective and also useful to fight back in the long-run through sustainability, instead of 
pinning cash over emergency resources.
General Financial Impact of a Virus in the 
Society
The effect on a country when a pandemic gets released, regardless of its developmental 
milestone, is adverse in results.
1. In the stance of quantifying the cost of inaction, government agencies spend a huge 
amount for experts and domain specialists to get accurate results.
2. There will be a reduction in the total trade revenue value.
3. High crisis in the form of liquidity along with financial market shocks are possible.
4. A large number of wages and loads get wasted, thus not benefiting both the seller or 
vendor and consumer or customer.
Prediction of the United Nations for 2020 
Pandemic
According to the statistics of DESA, with International trade getting severely affected, 
the supply chain is greatly reduced due to the impact of coronavirus pandemic.
The experts there also gave a word of warning that without the support of enough 
fiscal responses, economic activities should not be extended.
If that is the case, then from the reversal of their earlier prediction and forecasting, 
countries might experience about 1% shrinkage in the total global economy!
FACTOID 3: Less than half of the population in African countries such as Sudan, South 
Africa, Uganda, Madagascar, Eswatini, etc. have access to modern healthcare.
Global Economic Effects of COVID – 
19
Due to the rise of cases in coronavirus, world lockdown has come to a screeching a halt, 
thus reducing the overall economy.
Furthermore, the Organization for Economic Cooperation and Development (OECD) 
has estimates that:
There will be a less severe impact of coronavirus over countries that are domain in 
agriculture and mining areas.
Economic costs are adding to regular households of Americans.
The Bank of Canada has lower rates on their key interest value.
Low-income families in Singapore will get relative vouchers for buying their groceries.
Conclusion
Better research reviews with credible policies are needful to understand 
the severity and transmission rate of the coronavirus, at least to hold 
onto some financial backup before health adversities!
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