From Double Shock to Double Recovery : Implications and Options for Health Financing in the Time of COVID-19
Volume 2 updates the analyses presented in the original discussion paper, Volume 1, “From Double Shock to Double Recovery – Implications and Options for Health Financing in the Time of COVID-19,” published in March 2021. The original paper used macroeconomic projections released by the International...
| Main Authors: | , , , , , , , , |
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| Format: | Working Paper |
| Language: | English |
| Published: |
World Bank, Washington, DC
2021
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/670721616095085493/From-Double-Shock-to-Double-Recovery-Implications-and-Options-for-Health-Financing-in-The-Time-of-COVID-19 http://hdl.handle.net/10986/35298 |
| Summary: | Volume 2 updates the analyses presented in the original discussion paper, Volume 1, “From Double Shock to Double Recovery – Implications and Options for Health Financing in the Time of COVID-19,” published in March 2021. The original paper used macroeconomic projections released by the International Monetary Fund in October 2020 to project the possible time path of health spending per capita in 178 countries and territories from 2020 to 2025, under different scenarios. The scenarios built on observations of how health spending had responded during and immediately after previous economic crises, while taking into account that the economic crisis provoked by COVID-19 is different in its nature and scale. The most recent IMF country macroeconomic data, released in April 2021, forecast country macroeconomic performance through 2026. In comparison to earlier estimates, these projections suggest a less severe global economic downturn in 2020 and a stronger recovery in 2021. The objective of the present update is threefold. First, the paper briefly reports the IMF’s revised macroeconomic projections. Second, it spells out the implications of these projections for countries’ health spending. Finally, it compares different spending scenarios with estimates of countries’ incremental spending needs if they are to halt the COVID-19 pandemic and return to a path of progress toward universal health coverage (UHC). |
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