I don't know how helpful it is to talk about IFRs without qualification.

The IFR for a child from covid-19 is a statistical zero. Not zero, to be sure, but a tiny tiny fraction of 1%.

The risk grows exponentially with age, doubling every six or seven years of age .

If one looks at the age population pyramid of a different country, then they are very very different. The UK for example has had no population increase in its native (white British) population since 1939.

This means that there is now a very large population of people who are 80+.

Somewhere like Indonesia had 70 million people in 1939 and now has 275 million. The number of very old people is very small as a % of the population, since clearly the overwhelming majority were born relatively recently and cannot be very old and at very high risk from covid.

There are other risk factors of course, such as obesity and uncontrolled diabetes, which will differ from country to country, but fundamentally it makes no sense to talk about a country such as Malaysia having the same IFR as Italy, when the IFR is on a simplified level simply the sum of the product of the logarithms of age and the number of people of that age.

If the IFR of 0.65% is true for, say, the UK, it will be MUCH lower in Malaysia, which is younger.

Indeed this is the only way that it is possible to get higher ethnic risks, as were derived in the UK - the number of deaths per 100,000 were lower for ethnic minorities in the UK than for white people, but when you took into account the much lower age profile of people of non-white-British background, the fatality rate was higher.