Ocampo and Mazzucato at ECLAC Period of sessions

Towards LDC-5: Options for improving the mobilisation of global finance, its alignment with, and its impact on the recovery and sustainable development of LDCs.

As developing countries currently face the prospect of costly debt crises with far-reaching consequences, global action is urgently needed. The window to mitigate the disastrous long-term consequences of COVID-19 on poverty is closing rapidly.

The COVID-19 pandemic has created a perfect storm for public finances in developing countries by undermining economic activity and affecting both the revenue and expenditure sides of the budget.