COVID19 financial penalties larger than healthcare challenges South Asia

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Financial penalties of COVID-19 on South Asia larger than healthcare challenges: Report

The financial penalties of COVID-19 pandemic on South Asia are proving to be even larger than the healthcare challenges within the area, based on a report compiled by a prime American think-tank.

Titled “9 Months of COVID-19: The Affect on South Asia”, the report launched by the Hudson Institute think-tank on Friday, is co-authored by Husain Haqqani, former Pakistan ambassador to the US, and Aparna Pande and is an replace to their 30-page report “Disaster from Kolkata to Kabul: COVID-19’s Affect on South Asia” printed in Could 2020.

“The financial penalties of COVID-19 on South Asia are proving to be even larger than the healthcare challenges within the area.

Totally different South Asian international locations have handled the pandemic in numerous methods, however the financial prices total appear to be increased than the healthcare penalties,” mentioned Haqqani.

All these international locations have poor healthcare infrastructure and are dwelling to giant numbers of individuals residing beneath the poverty line, setting the inspiration for uphill battles when tackling well being crises, he mentioned.

“To be able to guarantee a protected return to regular life and a resumption of financial exercise, South Asian governments would profit from focusing extra on the event of human capital, Haqqani mentioned.

The report notes that after claiming that Pakistan had undergone a miracle in managing to curtail the unfold of COVID-19 instances, the nation is as soon as once more going through an increase in an infection.

“As well as, the final 9 months have witnessed additional curtailment of media and political opposition, an financial system in disaster, and growing function of the army,” it mentioned.

In keeping with the report, in Sri Lanka too, the pandemic has worsened the debt disaster and tightened the grip of the Rajapaksha brothers on polity and society.

With rising instances, Bangladesh is the second most severely hit financial system and the pandemic has worsened revenue inequality, it mentioned.

Turning to Afghanistan, whereas the healthcare disaster is taking its toll, the Afghans are additionally affected by the continued violent assaults by the Taliban and ISIS, it added.

On the subject of India, the most important nation within the area, the report notes that whereas the India-US relations “stay on an upward trajectory” with an financial system that has slowed down drastically, and clamping down on dissent throughout the nation, “India’s democratic credentials face challenges.”

The report factors to China’s continued “makes an attempt to deepen its strategic and financial ties with international locations within the area”, warning that the “the worldwide US-China peer competitors may even play out in South Asia, with Pakistan and Sri Lanka turning into nearer to China and different international locations safeguarding their choices.”

In keeping with Johns Hopkins College, greater than 1,349,700 individuals have died and there are over 56,270,000 confirmed instances internationally.

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