OPINION

Argentine economic miracle amid Covid

Oped, Joseph Stiglitz, Published on 14/01/2022

» Although Covid-19 has been hard on everyone, it has not been an “equal opportunity” disease. The virus poses a greater threat to those who are already in poor health, many of whom are concentrated in poor countries with weak public-health systems. Moreover, not every country can spend one-quarter of its GDP to protect its economy, as the United States did. Developing and emerging economies have faced hard financial and fiscal constraints. And because of vaccine nationalism (hoarding by rich countries), they have had to scrounge for whatever doses they can get.