The Human Face of COVID-19: Six Things to Consider for an Inclusive Recovery

In a recent report, the World Bank has shown that exclusion is costly to both societies and economies. At the individual level, such costs include poorer educational outcomes and mental and physical health, lost wages and lifetime earnings, to name a few. At the national level, the economic cost of exclusion can be captured by forgone GDP and human capital wealth. Globally, the loss in human capital wealth due to gender inequality alone is estimated at $160.2 trillion. The International Monetary Fund (IMF) has shown that inequality is detrimental to medium and long-term growth. Finally, accumulated grievances among those who have been left out can lead to social tensions and conflict, with significant long-term social and economic costs. Therefore, the contours of an inclusive recovery need careful thought and attention. Here are six things to consider.