Updated: August 2023
Economic response for whom?
Even before the pandemic, the majority of these countries were already reeling from the impact of neoliberal policies that have been imposed mostly through the conditionalities of international financial institutions (IFIs). After decades of implementation, it has been proven that so-called push buttons for development and global competitiveness e.g., liberalization, deregulation, and privatization have additionally depressed these already backward economies.
Now, the poor majority who suffered most from these neoliberal policies will again have to live through the pandemic’s worst impact. Hunger, joblessness, low agricultural productivity, and closure of small enterprises multiplied several times because of the restrictive measures implemented supposedly to curb the pandemic.
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