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Title : World Bank Says Pandemic Has Sparked The Broadest Economic Collapse Since 1870
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World Bank Says Pandemic Has Sparked The Broadest Economic Collapse Since 1870

AFP: Pandemic drives broadest economic collapse in 150 years: World Bank

Washington (AFP) - The coronavirus pandemic inflicted a "swift and massive shock" that has caused the broadest collapse of the global economy since 1870 despite unprecedented government support, the World Bank said Monday.

The world economy is expected to contract by 5.2 percent this year -- the worst recession in 80 years -- but the sheer number of countries suffering economic losses means the scale of the downturn is worse than any recession in 150 years, the World Bank said in its latest Global Economic Prospects report.

"This is a deeply sobering outlook, with the crisis likely to leave long-lasting scars and pose major global challenges," said World Bank Group Vice President for Equitable Growth, Finance and Institutions Ceyla Pazarbasioglu.

The depth of the crisis will drive 70 to 100 million people into extreme poverty -- worse than the prior estimate of 60 million, she told reporters.

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More News On The World Bank Saying The Pandemic Has Sparked The Broadest Economic Collapse Since 1870

Coronavirus: World Bank confirms deepest recession since World War Two -- UN News
Pandemic sparked broadest economic collapse since 1870, World Bank says -- The Hill
World Bank says the global economy will shrink by 5.2% this year -- CNN
World Bank warns Covid-19 pandemic risks dramatic rise in poverty -- The Guardian
World Bank: COVID-19 to contract global economy by 5.2% this year -- Yahoo News

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World Bank Says Pandemic Has Sparked The Broadest Economic Collapse Since 1870

World Bank Says Pandemic Has Sparked The Broadest Economic Collapse Since 1870

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World Bank Says Pandemic Has Sparked The Broadest Economic Collapse Since 1870

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World Bank Says Pandemic Has Sparked The Broadest Economic Collapse Since 1870

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