Pandemic sharpens inequalities, could fuel unrest, IMF warns

The coronavirus disease pandemic has worsened long-standing inequalities around the world, which left unaddressed could undermine economic stability and lead to unrest, according to the International Monetary Fund.

Poorest families have been hit particularly hard, and the damage to education could last for years, the IMF said in a report. The findings show that the warnings fund economists sounded last year have come to pass.

The global bank’s report said, “Covid-19 has exposed and exacerbated preexisting inequalities in incomes and access to basic public services, such as health care and vaccination, both within and across countries.”

It added, “Disruptions to education threaten social mobility by leaving long-lasting effects on children and youth, especially those from poorer households.”

Increasing reliance on digital work and schooling worsen the impact, making it harder for low-skilled workers to find jobs.

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