The global economic recovery from the crisis originated by the coronavirus pandemic may take as much as five years, the World Bank’s chief economist Carmen Reinhart said.
“There will probably be a quick rebound as all the restriction measures linked to lockdowns are lifted, but a full recovery will take as much as five years,” Reinhart said in a remote intervention during a conference held in Madrid.
Reinhart said the pandemic-caused recession will last longer in some countries than in others and will exacerbate inequalities as the poorest will be harder hit by the crisis in rich countries and the poorest countries will be harder hit than richer countries. For the first time in twenty years, global poverty rates will rise following the crisis, she added.
Multi-award-winning Nollywood actress, Adesua Etomi, has described 2024 as an emotionally and physically draining year while marking her birthday in… Read More
Congratulations are pouring in for Ciana Chapman, Sabinus' wife, as she completes her master’s degree in International Business. This news… Read More
Australia has updated the rules for the Second Working Holiday Visa (Subclass 417), allowing travelers to extend their stay for… Read More
Diva Gold, an actress and skit maker, disagrees with the belief that women find things easier than men. In an… Read More
A Nigerian man recounted how he accidentally got on a motorcycle operated by a police officer disguised as an okada… Read More
Toyin Abraham has demonstrated her caring nature by sending prayers to women who are trying to conceive. In an Instagram… Read More
This website uses cookies.