NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

The world’s least developed countries (LDCs) will experience their worst economic performance in 30 years in 2020 due to the coronavirus pandemic, the United Nations Conference on Trade and Development (UNCTAD) said in a report released Thursday.

In its Least Developed Countries Report 2020, the intergovernmental body, which seeks to help developing economies navigate a globalized economy, predicted that falling income levels, widespread unemployment, and growing fiscal deficits caused by the pandemic could push as many as 32 million people into extreme poverty in the 47 countries designated as “least developed.”

Photo courtesy of Jusdevoyage.