COMPARATIVE ANALYSIS OF SAARC, BRICS, G20, G7, QUAD, EU, AND SCO: DRIVING ECONOMIC RECOVERY IN THE GLOBAL SOUTH ECONOMY POST-COVID-19

Abstract

The COVID-19 pandemic precipitated unprecedented economic challenges, particularly for Global South nations, characterised by disrupted trade, constrained fiscal space, and heightened debt vulnerabilities. This study conducts a comparative analysis of seven major regional trade blocs and economic cooperation groups SAARC, BRICS, G20, G7, Quad, EU, and SCO evaluating their contributions to economic recovery in the Global South from 2020 to 2024. Leveraging authentic statistical data from sources such as the IMF, World Bank, and UNCTAD, the research examines trade volumes, foreign direct investment (FDI), development finance, and GDP growth impacts. Findings indicate that BRICS and G20 have been pivotal in fostering recovery through innovative financial mechanisms and inclusive multilateralism, while SAARC’s impact remains limited due to geopolitical constraints. The study underscores the need for coordinated global economic strategies to ensure sustainable recovery in the Global South.

Keywords: Global South Recovery, Multilateral Economic Cooperation, Post-COVID Trade and Finance