Raghuram Rajan is absolutely right that some countries can lose a decade or more due to the pandemic /FT, 8 July 2020/.
However, it is only half of the story, because a good deal of countries, richer and poorer, can lose the 2020s or more by missing the right means to handle the impact of Covid-19. Nearly all of the southern countries belong to the club, and a lot of northern economies too /Italy, Spain, France, UK, just to name some/, vast southern parts of nearly all of the richer countries, poorer parts of both, rich and poor societies.
They all must pursue self-interest via smart and targeted means to recover, because in the absence of widespread success stories no one will help the really hopeless.
Re “Pursue self-interest by helping other economies”
Governor Matolcsy, MNB, the Central Bank of Hungary
