Nigeria President, Mohammadu Buhari
WASHINGTON/United States of America: It had been predicted that the pandemic crises of the Coronavirus being experienced now in the world, is the only the first in the series of world problems that will follow the virus appearance in the world stage, as most developing countries will experience economic and political turmoil from the after effect of the virus.
This prediction, according Columnist, Fareed Zakaria, in his latest article in the Washington Post, stated that countries like Venezuela, Nigeria, Libya, Iran, and Irag should expect crises resulting from crash in oil price.
In the article, “This Is Only the First in a Series of Crises”.
Fareed said that “Even as we are just beginning to confront the magnitude of the shock caused by the covid-19 pandemic, we need to wrap our minds around a painful truth,”.
“We are in the early stages of what is going to become a series of cascading crises, reverberating throughout the world.”
“The shock of Covid-19 is being felt in countries like China, Italy, Spain, and the US, but next will come “explosions in the developing world,” where testing has been scarce, as are resources to cope with an economic crash. Oil-producing states could see chaos: With oil prices crashing even before Covid-19 hit, countries like Libya, Nigeria, Iran, Iraq, and Venezuela could see economic catastrophes resulting in “political turmoil, refugees, even revolutions, on a scale we have not seen for decades.”
The world entered this crisis with mountains of public debt and with global cooperation at a nadir. “The problem we face is broad and global,” Fareed writes, “but, unfortunately, the responses are increasingly narrow and parochial.”
