For a strong economic recovery, invest in financial resilience

Jan 18, 2023

Nearly 20% of adults in high-income countries lack financial resilience. Davos 2023

Nearly 20% of adults in high-income countries lack financial resilience. Image: Shutterstock

Jonathan Morduch

Professor of Public Policy and Economics, Executive Director of the Financial Access Initiative, New York University, Wagner Graduate School of Public Service

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Financial resilience is defined as the ability to come up with emergency money equivalent to 5% of gross national income within 30 days without difficulty. Image: Global Findex Database 2021

The Global Findex 2021 data on financial resilience found that savings are the most common source of funds for adults who can come up with the money easily. Image: Global Findex Database 2021

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