Some of the world’s poorer countries have seen “tragic reversals in development” during the COVID-19 pandemic, World Bank Group president David Malpass said on Monday. In a speech at a media roundtable during the 2021 annual meeting of the International Monetary Fund (IMF) and the World Bank Group, Malpass said that development progress in some countries are being set back for several years because of the pandemic. The pandemic has devastated lives and livelihoods worldwide after inaction by the Chinese Communist Party (CCP) saw the CCP virus, which causes the disease COVID-19, spread from Wuhan to around the world. Over 4.8 million people have died at the time of writing. The international group expects a global growth of 5.7 percent in 2021 and 4.4 percent in 2022, but Malpass said the global recovery “remains dramatically uneven,” as the gap between developed and developing economies continues to widen. “Incoming high-frequency data points …
World Bank Warns of ‘Tragic Reversals’ in Developing Countries Due to COVID-19
October 11, 2021
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