Economists around the globe are warning the fallout from the pandemic might be the worst downturn since the Great Depression of the 1930s.
Almost every country on the planet is being affected but developing economies might get hit hardest. They’ll be affected in four distinctive ways:
* Commodity prices will fall and many developing nations are exporters of those
* International investment will fall, investors might even pull money out of from developing nations
* Declining local currencies will make it harder to repay foreign debt if it was taken for instance in US dollars
* Overseas workers will be earning less, sending back fewer remittances to their families.
Source:Â bbc.com