The poorest economies are worse off today than they were before the COVID-19 pandemic, with a 14% average drop in per capita income between 2020 and 2024. This persistent decline posits a worrying trajectory, demonstrating that the repercussions of the pandemic have severely engaged with existing vulnerabilities, making recovery even more challenging for these nations. The report underscores how essential increased investment is to mitigate this economic setback and meet critical development goals.
Net official development assistance has fallen to a 21-year low of 7 percent of GDP in 2022, despite the glaring need for substantial investment to aid recovery. This situation is dire for low-income countries as they face not only the fallout from the pandemic but also the compounding effects of natural disasters and economic instability. As IDA's resources remain crucial, the international community's retreat signifies a troubling lack of support for those most in need.
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