Conclusions

The onset of Covid-19 pandemic has multiplied the severity of challenges which developing countries face. The subsequent contraction of the global economy is leading to mass unemployment, with millions of people forced into extreme poverty. While advanced economies are spending billions of dollars as stimulus packages, developing countries with limited financial resources are compelled to revisit their macroeconomic, financial, trade, and industrial policies. The rising debt levels and the widening digital divide create further difficulties for economic recovery in the Global South. The structural transformation of their economies has become necessary to ‘recover better’ with equitable and resilient growth.

Sustainable Development Goals:

Decent Work and Economic Growth

Industry, Innovation and Infrastructure

Partnerships for the Goals