According to the World-renowned journal on Economics “the Economist”, Covid-19 hurts emerging economies in at least three ways: by locking down their populations, damaging their export earnings and deterring foreign capital.
Even if the pandemic declines in the 2nd Half of the year, GDP (Gross Domestic Production) in developing countries, measured at purchasing-power parity, will be 6.6% smaller in 2020 than the IMF (International Monitory Fund) had forecast in October.
In their latest publication, “the Economist” had ranked the economies of countries which were affected by Covid-19 pandemic. According to the recent rankings, Sri Lanka is one of the countries which is facing an economic debacle due to the current pandemic. The Rankings are based on the
The ranking includes economies of 66 countries worldwide. Sri Lanka is ranked 61st in that list, whereas the economies which have taken a rather bad hit compared to Sri Lanka are Angola, Lebanon, Bahrain, Zambia and Venezuela, in that particular order. From the South Asia Region, Bangladesh is ranked on top of the list at No.9 and India is ranked 18th and Pakistan is ranked 43rd
The ranking looked at public debt, foreign debt, cost of borrowing and reserve cover of countries.
Source: The Economist