The Organisation for Economic Cooperation and Development (OECD) warns that the disruption caused by lockdowns during the Covid-19 pandemic has significantly impacted children’s education, potentially setting back global economic growth by up to 40 years. This dire assessment comes from the OECD’s interim economic outlook report, which examines the repercussions of the pandemic on education and economic prospects.
Impact on Academic Performance
The OECD’s report reveals a stark decline in mathematics and reading test scores among 15-year-olds between 2018 and 2022, coinciding with the years of the pandemic. These findings, drawn from the 2023 global Performance for International Student Assessment (PISA) report, indicate a worrying trend with long-term implications for productivity, knowledge dissemination, and innovation on a global scale.
Disparities in Learning
The reduction in test scores is attributed primarily to the shift towards online learning during pandemic lockdowns, which disadvantaged children from economically vulnerable backgrounds due to limited access to resources. Challenges ranged from lack of internet connectivity and computing devices to inadequate learning environments and support systems, exacerbating existing disparities in education.
Call for Educational Reforms
While the pandemic magnified existing flaws in educational systems worldwide, it also underscores the urgent need for reforms. The OECD advocates for higher standards in teacher qualifications, improved teaching quality, and enhanced support for disadvantaged schools and students. Additionally, there’s a growing demand for expanded opportunities in lifelong learning, skills-based education, and vocational training tailored to current market demands.
Economic Outlook and Inflation Forecasts
Amidst geopolitical tensions and supply chain disruptions, the OECD projects a cautious optimism regarding inflation rates in G20 countries. While headline inflation is expected to moderate in the coming years, central banks remain vigilant, opting for a prudent approach to monetary policy to ensure sustained containment of inflationary pressures.
Shipping Disruptions and Inflation Concerns
The report highlights disruptions in maritime trade routes, particularly in the Red Sea region, as a significant driver of rising shipping costs and inflationary pressures. With several companies suspending transits through the Red Sea due to security concerns, global trade routes face uncertainty, leading to potential supply chain disruptions and price hikes for consumer goods.
SOURCE: Ref Image from Arabian Business
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