Economic Crisis and International NGOs
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This week, the International Monetary Fund revised its World Economic Outlook forecast, to say that the pandemic has had a more negative impact on economic activity than anticipated with a slower-than-forecasted recovery. As a result, the IMF predicts that the pandemic will have a “particularly acute negative impact. . . on low-income households worldwide,” and reverse the last three decades of progress.
- Advanced economies are expected to see a -4.9% drop in output; while emerging markets and developing economies will see a -3.0% change. (IMF)
- 22 international NGOs collectively operating in 93 countries around the world urgently need approximately $30 million in digital capacity investment to respond to the acute needs catalyzed or accelerated by the COVID-19 pandemic, according to a new survey of NetHope NGO members
As developing countries’ situations worsen, the demands on international humanitarian and development NGOs will grow – at the same time that their fundraising falls. International organizations are having to figure out how to achieve their impact in a very different – very digital – way. Digital capacity will now be a part of the service delivery roadmap. Creative solutions like contactless aid delivery, donor consent to release funding restrictions, and investment in cash transfers and direct aid should be on the table as these NGOs look ahead.