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How the US can support developing countries fighting Covid-19 for $0

The economic fallout from the pandemic is also a challenge, particularly for governments like Nigeria whose economy, like the majority of African countries, is largely commodity dependent

Photo: Shutterstock
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Steep declines in aggregate demand and commodity prices as a result of COVID-19 and the world recession have caused economic strain and bloated fiscal deficits. Photo: Shutterstock

Charles Kwuelum | FPIF
As the world seeks to mitigate economic fallout from the COVID-19 global pandemic and its unprecedented disruptions, the United States has, to date, prioritized its domestic challenges, largely abandoning its traditional role as a provider of humanitarian assistance during times of international crisis.

On July 31, the House of Representatives took an important step toward remedying this neglect, and passed legislation in support of the International Monetary Fund (IMF) issuing 2 trillion Special Drawing Rights (SDRs), a reserve currency that can be exchanged for dollars, to ensure that low- and middle-income countries have the resources to tackle the human and