(1/6) The impact of Covid-19 on #financialhealth webinar with @AmoloNgweno @pgubb @Elisabeth Rhyne and Hennie Bester. #financialhealth around the world was already lacking before the impact of #Covid19 on economies.
(2/6) Leaving many adults in developing economies without the resources they need to survive under a prolonged economic shutdown
(3/6) #SocialDistancing and other restrictions due to #COVID19 limits primary coping strategies such as drawing on #social networks, #working or selling #assets.
(4/6) Most adults expect that the spread of #COVID19 will significantly affect their financial #wellbeing (further than it has). See findings from @BFAGlobal's rapid survey 👇
(5/6) #Data suggests that after 4 weeks, nearly 50% of people won't be able to cover #basicneeds and many small businesses are already running short on cash reserves.
(6/6) #Governments, #private sector and #development partners need to shift away from #financialhealth to #livelihoods which requires new approaches for wide reticulation & income support. Creative thinking, pilots, relief and support will be needed for #recovery
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