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Audio Interview

International aid for developing countries in the age of Covid-19

Published on November 10, 2020   24 min

A selection of talks on Finance, Accounting & Economics

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Interviewer: Today, I'm speaking to Professor Krueger, the Senior Research Professor of International Economics at the Johns Hopkins School of Advanced International Studies about what the advanced economy should, in their own interest do, to assist developing countries to cope with the COVID-19 pandemic. I would add that Professor Krueger has previously served as Chief Economist at the World Bank and the first Deputy Managing Director of the International Monetary Fund. Professor Krueger, how would you state the issue? Prof. Krueger: Well, the issue is very simple. We have a worldwide epidemic, and we will never get it under control until all countries have it under control. Interviewer: So, what should we do? Prof. Krueger: Well, the main thing is to ensure that our supplies of the various goods that are needed for both mitigation and for containing the virus, and finally, hopefully, a vaccine, are reasonably well distributed among the countries. There's going to have to be some kind of a group, perhaps a G20 or something, maybe the WHO, decide on some kind of a formula by which other poor countries get their share. Interviewer: Is there a challenge in doing what we should do in the quality of local management and the capability of local management, and if so, how should that be addressed? Prof. Krueger: Well, there's a problem of quality management even in some of the advanced countries, it is not unique to developing countries. Their main problems are, of course, lack of financing, poverty, the fact that many people are in small villages and away from healthcare centers,

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International aid for developing countries in the age of Covid-19

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