Carmen Reinhart, chief economist at the World Bank, indicated that the global economic recovery from the crisis caused by the Corona pandemic may take five years, noting that “there will likely be a quick recovery, given that all restrictions associated with the general isolation measures have been lifted, but a full recovery It will take up to five years."
Reinhart stressed that the recession resulting from the pandemic will last longer in countries than others, and will result in an imbalance in equality, given that the poorest countries will be affected more than the rich. Revealing that for the first time in twenty years, global poverty rates will increase after the crisis.
The World Bank announced that the outbreak of the "Covid-19" epidemic, which forced schools to close, threatens to eliminate the remarkable progress made over the last decade in the field of education and health.
World Bank President David Malpass considered that "human capital is very vital to the economic and financial future of any country, warning that the gains may be overshadowed by the repercussions of the epidemic crisis."
Source (Asharq Al-Awsat Newspaper, Edited)
