World Banks Say Economic Shocks Have the Greatest Impact on the Poorest Nations

  • 10 months ago
World Banks Say Economic Shocks , Have the Greatest Impact , on the Poorest Nations .
According to the World Bank,
the poorest countries in the world stand to
lose the most from a faltering global economy.
'The Guardian' reports that the Washington-based body
warned that the international community was failing
to reach the UN’s 2030 anti-poverty development goals.
The world economy is
in a precarious position, Indermit Gill, World Bank chief economist, via 'The Guardian'.
The World Bank also warned that
the world was at risk of a fresh debt crisis
across the world's most vulnerable nations.
Outside of east and south Asia,
it is a long way from the dynamism
needed to eliminate poverty, counter
climate change, and replenish human capital, Indermit Gill, World Bank chief economist, via 'The Guardian'.
Despite revising up 2023 growth forecasts, the global
economy continues to struggle as the impact of rising interest
rates in wealthy nations ripples out to poorer countries.
Despite revising up 2023 growth forecasts, the global
economy continues to struggle as the impact of rising interest
rates in wealthy nations ripples out to poorer countries.
In emerging markets and developing
economies, debt pressures are growing
due to higher interest rates. Fiscal
weaknesses have already tipped many
low-income countries into debt distress. , Indermit Gill, World Bank chief economist, via 'The Guardian'.
In emerging markets and developing
economies, debt pressures are growing
due to higher interest rates. Fiscal
weaknesses have already tipped many
low-income countries into debt distress. , Indermit Gill, World Bank chief economist, via 'The Guardian'.
According to the global economic
prospects report, 2023 is forecast
to see just 2.1% growth globally.
That number is down from
3.1% in 2022 and 6% in 2021.
Meanwhile, the financing needs to achieve
the sustainable development goals are far
greater than even the most optimistic
projections of private investment, Indermit Gill, World Bank chief economist, via 'The Guardian'.
Meanwhile, the financing needs to achieve
the sustainable development goals are far
greater than even the most optimistic
projections of private investment, Indermit Gill, World Bank chief economist, via 'The Guardian'

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