By Debapriya Bhattacharya, Distinguished Fellow, Centre for Policy Dialogue (CPD), and Fareha Raida Islam, Programme Associate, Centre for Policy Dialogue (CPD)
This blog is part of a series on tackling COVID-19 in developing countries. Visit the OECD dedicated page to access the OECD’s data, analysis and recommendations on the health, economic, financial and societal impacts of COVID-19 worldwide.
The scourge of COVID-19 continues to devastate life and livelihoods across the world. While the global community assesses the possible impact of this pandemic and commits to take action, it is becoming evident that the consequences will be more pronounced in the weaker economies, and possibly catastrophic in the least developed countries (LDCs) – a group of countries that share multiple structural vulnerabilities. A targeted package of international support measures for LDCs, realigning existing programmes, is urgently needed.
Vulnerabilities of the least developed countries
About a quarter of the United Nations’ members (47 countries) are LDCs, accounting for 12% of world population, against less than 2% of global GDP and less than 1% of global trade and foreign direct investment (FDI). These countries, penalised by geography and history, host about 40% of the world’s poor. Almost all are climate-change affected nations, and a large number are fragile states. Only about 18% of the population in LDCs have access to internet – the vast majority are victims of the digital divide. LDC governments on average spend less than 2% of their country’s GDP on public healthcare. Continue reading