Asserting that the world economic recovery from the COVID-19 pandemic is very fragile and uneven, United Nations Secretary-General Antonio Guterres on Monday said the global financial system has failed the low-income countries when they needed it the most.
"The world is recovering from the pandemic, but the recovery is still fragile. Vaccination rates in some countries is seven times higher than the same in African nations," he said.
In a special address at the World Economic Forum's online Davos Agenda 2022 summit, Guterres said the low-income countries have a huge disadvantage, while rising food prices are hitting the recovery very badly especially in low to middle-income nations.
"Global financial system has failed them when they needed it the most and a global solidarity is lacking," he said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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