Quote from: Betwrong on April 18, 2020, 12:03:18 PM

The US has 700k+ cases currently, but we shouldn't count out the population of the country, around 330 million, and the fact that the US has done more coronavirus tests than anybody else, 3.5 million+. I mean, some other countries can have the same amount of cases per capita, they just don't know about it. But that is not to say that the economic impact of the virus can be more devastating in the end in those countries. IMO no country will go bankrupt because of the COVID-19 pandemic.

Do you mean the definition of bankruptcy such as Argentina, Greece, and Zimbabwe? Maybe developing and poor countries can face the situation after the pandemic effect ends.

In one blow, the COVID-19 pandemic contributed to the impoverishment of a large sector of the world's population. And guess who is the savior in overcoming this crisis, the IMF and the World Bank. The IMF will lend money to a country and with the money that the IMF lends to a country, that country will repay the IMF. The neoliberal solution implemented at the global level does not, in fact, restore the economy but rather impoverish it. The drama of the start of the new debt process was played and in the end, contributed to the increase of the debt by many countries in the world.

Lockdown as the only recommended method for WHO to counter COVID 19 brings a restructuring of the global economy and the consequences are conditioning the concentration of massive wealth, destabilizing small and medium enterprises in all key areas of economic activity including service economy, agriculture, and manufacturing, undermining rights workers, disrupting the labor market, depressing wages in high-income developed countries as well as in poor developing countries. In turn, all this has led to mass unemployment, bankruptcy of small and medium-sized companies, destruction of people's purchasing power, widespread poverty and hunger in many countries.

https://www.imf.org/en/News/Articles/2020/04/03/tr040320-transcript-kristalina-georgieva-participation-world-health-organization-press-briefing