The COVID-19 pandemic has had a devastating impact on the world, with millions of people infected and hundreds of thousands of lives lost. However, recent studies have shown that access to financial services may be linked to lower mortality rates from the virus.
Financial inclusion, or the ability to access and use financial services, has been shown to have a positive impact on health outcomes in general. People who have access to financial services are more likely to have better health outcomes, as they are able to afford healthcare and other basic necessities.
During the COVID-19 pandemic, financial inclusion has become even more important. People who have access to financial services are better able to weather the economic impact of the pandemic, as they are able to access government aid and other forms of financial support.
A recent study conducted by the World Bank found that countries with higher levels of financial inclusion had lower mortality rates from COVID-19. The study looked at data from 135 countries and found that countries with higher levels of financial inclusion had an average mortality rate of 0.8%, compared to 1.5% for countries with lower levels of financial inclusion.
The study also found that countries with higher levels of financial inclusion were better able to implement public health measures, such as social distancing and mask-wearing. This is because people who have access to financial services are more likely to have the resources they need to comply with these measures, such as the ability to work from home or purchase masks.
In addition, countries with higher levels of financial inclusion were better able to provide healthcare services during the pandemic. People who have access to financial services are more likely to have health insurance and be able to afford healthcare, which can help prevent the spread of the virus and reduce mortality rates.
Overall, the study suggests that financial inclusion is an important factor in reducing mortality rates from COVID-19. Countries that prioritize financial inclusion may be better equipped to handle future pandemics and other health crises.
In conclusion, access to financial services is crucial during the COVID-19 pandemic. People who have access to financial services are better able to weather the economic impact of the pandemic and comply with public health measures. In addition, countries with higher levels of financial inclusion have lower mortality rates from COVID-19. As we continue to navigate the pandemic, it is important to prioritize financial inclusion as a key factor in promoting public health and reducing mortality rates.
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- Source: Plato Data Intelligence.