Global cost of coronavirus: $11.7 trillion

Global cost of coronavirus: $11.7 trillion

Out of this global cost, $9.8 trillion (83%) has been spent by 36 rich nations against just $42 billion (0.4%) by 59 low-income countries to cope with the fallout from the COVID-19 pandemic, Oxfam said

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The world has spent an additional $11.7 trillion this year to cope with the fallout from the coronavirus pandemicThe world has spent an additional $11.7 trillion this year to cope with the fallout from the coronavirus pandemic
BusinessToday.In
  • Dec 16, 2020,
  • Updated Dec 16, 2020 5:46 PM IST

The coronavirus pandemic has cost the world's economy an additional $11.7 trillion this year, according to Oxfam. Out of this (global) cost, $9.8 trillion (83%) has been spent by 36 rich nations against just $42 billion (0.4%) by 59 low-income countries to cope with the COVID-19 pandemic, the international NGO noted in a release published on Tuesday, December 15.

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On additional cash poured specifically into social protection programmes, Oxfam stated that 28 rich nations have spent at the rate of "$695 per person", while, low-income and emerging nations, in contrast, have spent "at a per capita rate of between $28 to as low as $4."

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The coronavirus pandemic has cost the world's economy an additional $11.7 trillion this year, according to Oxfam. Out of this (global) cost, $9.8 trillion (83%) has been spent by 36 rich nations against just $42 billion (0.4%) by 59 low-income countries to cope with the COVID-19 pandemic, the international NGO noted in a release published on Tuesday, December 15.

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On additional cash poured specifically into social protection programmes, Oxfam stated that 28 rich nations have spent at the rate of "$695 per person", while, low-income and emerging nations, in contrast, have spent "at a per capita rate of between $28 to as low as $4."

Also Read:

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