Quick and Effective Solution from Smartlands to Finance SMEs on the Blockchain
Income losses due to the COVID-19 are expected to exceed 200 billion Euros in developing countries. With an estimated 55 per cent of the global population having no access to social protection, these losses will reverberate across societies, impacting education, human rights and, in the most severe cases, basic food security and nutrition.
The IMF noted that even a short-lived outbreak would reduce the global GDP by at least 3%. A resurgence of COVID-19 in 2021 could leave economies struggling for years to come. Because of a global lockdown, the continuation of supply chains is threatened, markets, especially in rural areas, may collapse and the prices for even basic goods and services will skyrocket.