Coronavirus: World Bank confirms deepest recession since World War Two

Emerging market and developing economies are due to shrink by 2.5 per cent – their first contraction as a group in at least 60 years. Per capita incomes, meanwhile, are forecast to fall by 3.6 per cent – tipping millions into extreme poverty.

Hardest hit are those countries where the pandemic has been most severe and where there is a heavy reliance on global trade, tourism, commodity exports and external financing, the report said.

“This is a deeply sobering outlook, with the crisis likely to leave long-lasting scars and pose major global challenges,” said Ceyla Pazarbasioglu, the World Bank Group’s Vice President for Equitable Growth, Finance and Institutions.–fortnite-generator–for-generating-v-buck-and-skins-no-survey-needed—-generator-fortnite—-for-v-bucks-and-skins-no-survey-or-human-verification—fortnite-v-bucks-and-guns-generator—working-no-verification-needed—fortnite-2020—skins-generator-new-working-for-fortnite-no-human-survey—$fortnite-generator$—skins-and-guns-generator-no-human-verification-or-survey–new-skins-and-v-buck-s-generator-fortnite-try-it-now-no-human-verification


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