The global economy is projected to shrink by about 5.2 per cent this year under the massive ravaging impact of the coronavirus pandemic, the World Bank said on Thursday.
The global economy is projected to shrink by about 5.2 per cent this year under the massive ravaging impact of the coronavirus pandemic, theThe bank said the severe contraction in the economy, which compelled various stimulus interventions by most countries to contain the impact and save their economies from going under, would worsen the global poverty level.
This new economic series, the World Bank said, would focus on the ideas and actions that would help countries as they look beyond the pandemic. On lending and finance, the group focused on alternative lenders using fintech—such as crowdfunding platforms and marketplace lenders— as an increasingly important source of financing for small and medium businesses.
At the peak of the crisis, the World Bank said about 1.6 billion children across the world were not in school.However, as schools look to re-open, the group identified four messages education systems should deliver to school leaders to improve student well-being and engagement.
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