Today, Corona virus disease has destroyed
not only the lives of millions of people all over the world
but has also destroyed the fast-running world economy.
In this crisis, where poor people are struggling for their
livelihood, government institutions, the corporate sector,
and private companies are also grappling. Not only
developed countries but also developing and
underdeveloped countries have been badly affected due
to Covid-19. The financial condition of the
underdeveloped countries is already very poor.
Underdeveloped countries have a share of just 2% in the
world GDP and 1 percent of the world trade. Fortyseven countries fall under the category of
underdeveloped countries. Most of these countries are
from Africa. Covid-19 effects became more visible on the
world economy in the beginning of 2020. Export of these
countries declined by 1.6 percent in 2019. This declined
was more than that of the world economy i.e 1.2 percent.
Although Covid-19 effected the economies of the all over
the world yet least developed nations effected badly as
compared to developed and developing nations.