COVID-19 and its economic shock present a stark threat to residents of LMICs who lack the social safety nets that exist in rich countries. (Photo credit: Swiss TPH)
COVID-19 and its economic shock present a stark threat to residents of LMICs who lack the social safety nets that exist in rich countries. (Photo credit: Swiss TPH) - The onset of the COVID-19 pandemic caused a sharp decline in living standards and rising food insecurity in lowand middle-income countries across the globe, according to a new study by an international team of economists including from Swiss TPH. The study, published today Advances, provides novel insights into the collateral damage of the pandemic, and urges the international community to take action to mitigate the impact on hunger and poverty. As the COVID-19 pandemic crossed the threshold of two million lives lost, the world remains at a precipice: though vaccinations are underway, the virus continues its spread, including new mutations. The economic impact of this crisis on the most marginalised populations around the world is particularly devastating. In a study published today Advances, an international team of economists, including from Swiss TPH, provided an in-depth view of the socioeconomic impact of COVID-19 in lowand middle-income countries, using detailed micro data collected from tens of thousands of households in lowand middle-income countries (LMICs). "We interviewed over 30,000 people in Asia, Africa, and Latin America, and discovered widespread drops in employment and income and increases in food insecurity," said Günther Fink, an economist and public health specialist at Swiss TPH.
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