World Bank says economic crunch likely to hit poorest countries hardest

The world’s two leading financial institutions have warned of dire economic disruptions as the coronavirus pandemic continues to spread around the globe, with record numbers of deaths and infections reported in Europe and the United States.
World Bank Group President David Malpass on Friday said the health emergency was expected to cause a “major global recession” that would likely hit the poorest and most vulnerable countries the hardest, while the International Monetary Fund described the situation as a “crisis like no other”.

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