Developing economies risk being left behind as fast growth in developed countries and talk there of a “post-Covid” world distracts policymakers from the need for continued support to poorer nations, many of which still lack vaccines, the UN has warned.
“The biggest risk for the global economy is that a rebound in the north will divert attention from long-needed reforms without which developing countries will remain in a weak and vulnerable position,” the UN Conference on Trade and Development said in a report on Wednesday.
The pandemic has often been seen as an opportunity to “build back better” and rethink the principles of international economic governance. But the chances of that happening risk slipping away again, as after the global financial crisis, the report warns.