ABSTRACT
This chapter examines the effectiveness of the financial capacity indicators employed across 121 countries and identifies the income groups that are really benefiting from the established social protection system. The result of this study shows that the mean difference in the majority of the financial capacity indicators and the associated risks are not significantly different across the various different income groups. The analysis of variance results for mean differences across the income groups in relation to associated financial capacity indicators at a 95% level of significance. In waiting for a promising future that might enhance the financial capacity of the majority of the global population, the COVID-19 pandemic turned back the poverty clock. The COVID-19 pandemic would have a negative impact on the economies of developing countries. Despite the continuous promotion of the 17 sustainable development goals prior to the occurrence of the COVID-19 pandemic, but has been affected by pandemic shocks.
