#India, #Brazil, and #SouthAfrica will face the 'harshest' #economic impact from the #coronavirus as they're corrupt and badly run. These 3 economies lie at the very bottom of risk consultancy Verisk Maplecroft's "Recovery Capacity Index" on #COVID19.
http://markets.businessinsider.com/news/1029525418
The G-20's "least-resilient" nations are set to face far worse economic consequences than wealthier ones in the aftermath of the pandemic, according to a report by global political risk consultancy Verisk Maplecroft.
India, South Africa, and Brazil will experience the "harshest repercussions" as they attempt to recuperate economic losses this year, analysts David Wille and Joshua Cartwright wrote.
G-20 countries in Western Europe and East Asia have the capacity to recover more rapidly than emerging market members, the report said.
More affluent countries adopted strict lockdowns and managed to support citizens when their economies entered a "self-induced coma," the report found, while poorer G-20 members could not launch such widespread programmes, it added.
The clear outlier was found to be the US with the "least effective pandemic response of any developed market" due to a politicized re-opening of state level eceonomies, which allowed the virus to keep spreading, the report said.
However, it added, as soon as a vaccine is developed, the high fiscal power of the US will lessen the impact of the downturn.
The G-20, which is made up of the EU and 19 of the world's most powerful economies, can expect its members to see a two-track recovery through Verisk Maplecroft's "Recovery Capacity Index."
The index measures a nation's ability to recover from a crisis.
India, South Africa, and Brazil lie at the very bottom of this index.
The three economies contribute to 20% of the world's population, 10% of the world's GDP, 3.7% of total trade, and 3.2% of foreign direct investment flows.