Which country's government will be the most affected by the COVID-19 global pandemic, and be the first to go bankrupt, and default?
As always the case, the poorest countries are at the most disadvantageous position. Thickly populated countries whose population is highly dependent on daily wages or a no-work no-pay basis are going to feel the economic pain earlier and in a more severe degree. I don't want to name countries but we know which of them have such a situation. In those countries, health benefits are next to nothing. Moreover, if a lockdown is implemented, the daily wage earners, which doubtless comprise the huge majority of the population, may not be exposed to the danger of getting infected but will go hungry until god knows when.
I am coming from the Philippines and my country is certainly one in the category that I've mentioned. The primary concern of my country right now is that lockdown and community quarantines are hard to implement. The rich and the privileged don't have any problem with it; it is very easy for them to abide with the order. How about the poor? They don't scratch, there is nothing to peck. While I don't believe this pandemic will make my country bankrupt, it will definitely hurt the economy. And when the economy of a developing country is severely hit, the ordinary man will suffer the most.
Note that even the so called Developed country are suffering the effect of this virus like US who is now calling for help from around the world and is only after the pandemic we will know the economy that is strong enough to recover quickly as one cannot tell now what will happen in future after this Pandemic.
I have issue with the lockdown measure to cub spread of the virus for am of the opinion that the lockdown measure should be base affected community by community and not just to short down the whole economy of the country as some countries are busy copy other countries lockdown measure which doesn't work.