. The article was written before Reinhart was named to her World Bank post.
The World Bank in June warned that the Covid-19 recession threatens to drag 70 million to 100 million people into extreme poverty, with emerging and developing economies shrinking the most in data going back to 1960. The United Nations also said that nations face the worst food crisis in at least 50 years.“This situation is so dire that it deserves to be called a ‘depression’ — a pandemic depression,” the couple said.
The Reinharts warn that an economic rebound shouldn’t be confused with a recovery. In all of the worst financial crises since the mid-19th century, per capita gross domestic product took an average of eight years to return to pre-crisis levels, they say. The Reinharts encourage countries to press on with fiscal and monetary stimulus.
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Roberta Annan a powerhouse in the investment worldThe award-winning businesswoman said it is important for people to realise that black women have a lot to offer apart from their education that can be valuable in the investment industry. AnElectricLady
Source: SowetanLIVE - 🏆 13. / 63 Read more »