Coronavirus: World Bank confirms deepest recession since World War Two

The COVID-19 pandemic will shrink the global economy by 5.2 per cent this year, representing the deepest recession since World War Two, and triggering a dramatic rise in extreme poverty, the World Bank said Monday in its latest Global Economic Prospects report.

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World Bank: sharp, long-lasting slowdown to hit developing countries hard

10 Jan 2023

Growth in emerging market and developing economies will be hit hard over the next two years, according to the World Bank’s latest Global Economic Prospects report.

Global economic growth downgraded due to spillover from Ukraine war

18 May 2022

The global economy is expected to grow by only 3.1 per cent this year, down from the 4.0 per cent projected in January, largely derailed by the war in Ukraine, according to the UN’s latest World Economic Situation and Prospects (WESP) report, launched on Wednesday.

COVID-19 variants, rising debt, threaten global economic growth: World Bank

11 Jan 2022

Global growth will slow down over the next two years in the face of “fresh threats” from COVID-19 variants and rising inflation, debt and income inequality, the World Bank said on Tuesday in its latest report.