Most of the world’s developing countries have reduced their foreign exchange reserves during the COVID-19 pandemic.
according to, report Sunday (April 9), quoted by Financial Times (FT) fDi market Analysis of central bank data for 75 countries collected by Haver Analyticsthe latest sign of the ongoing impact of the pandemic.
This figure shows that the key coverage ratio, often used to measure foreign exchange reserves, fell by at least 25% in more than half of the countries surveyed. The largest decline occurred in Bolivia, followed by Sri Lanka, Lebanon and Pakistan, all of which have fallen by at least 75% since March 2020.
The FT said the loss of reserves is preventing these countries from repaying their budget deficits and covering the cost of importing food, fuel and essentials.
These findings follow last week’s report showing Americans are still working less than they did before COVID emerged.
According to a paper published in , the number of Americans working is 1 percent less than in February 2020, and people are working about an hour less than in the pre-pandemic month. Brookings paper on economic activity.
These trends are costing the US workforce the equivalent of 2.4 million people, according to Professor Katherine Abraham of the University of Maryland and her doctoral dissertation. Student Lee Rendell.
According to the report, these declines can be attributed to several trends that were underway before the pandemic and others caused by the virus.
About 40% of the loss of about 1 million workers is due to the pre-pandemic trend of baby boomers leaving the workforce as they reach retirement age, the brief said.
However, most of that decline, about 1.4 million workers, could be due to COVID-related factors, such as workers delaying looking for new jobs after receiving payouts related to the health crisis or closures. Highly sexual
Others may have avoided work out of fear of catching the virus, reduced their working hours due to the prolonged coronavirus outbreak, or readjusted their work-life balance after the pandemic, according to the report. There is a nature.
Another New York Times report released late last year found as many as 3.5 million people were missing from today’s projected workforce based on pre-pandemic trends. A significant number of these “missing workers”, that is, he 2 million retired permanently.
