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World Bank: Covid-19 pushes poorer nations ‘from recession to depression’

The president, David Malpass, says a more ambitious debt relief plan is needed Coronavirus – latest updates See all our…

By Admin , in Covid-19 News United Kingdom , at August 19, 2020

The president, David Malpass, says a more ambitious debt relief plan is needed

The head of the World Bank has called for a more ambitious debt relief plan for poor countries after warning that the Covid-19 recession is turning into a depression in the most challenged parts of the globe.

In an interview with the Guardian, David Malpass raised the prospect of the first systematic write-off of debts since the 2005 Gleneagles agreement as he said fresh Bank figures due out next month would show an extra 100 million people had been pushed into poverty by the crisis.

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World Bank: Covid-19 pushes poorer nations ‘from recession to depression’

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