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World Bank sees 'major global recession' due to pandemic

Published 04/03/2020, 07:41 PM
Updated 04/03/2020, 11:10 PM
© Reuters. FILE PHOTO: Atrium is seen at World Bank headquarters in Washington

WASHINGTON (Reuters) - World Bank Group President David Malpass on Friday said the rapidly spreading COVID-19 pandemic was expected to cause a "major global recession" that would likely hit the poorest and most vulnerable countries the hardest.

"We intend to respond forcefully and massively with support programs, especially for poor countries," Malpass said in a posting on the LinkedIn (NYSE:LNKD) networking site, adding that he planned to speak soon with the leaders of Ethiopia, Kenya and other countries.

Latest comments

Super rigged market trying to save such news until Friday eve before Monday's opening. __ Looks like they're aiming for a steep sell-off at Monday's open into which Hedge funds then pour their $400 Bln nest egg. Warren Buffet could be one of the buyers during such washout low. Could it come close to another Monday's price low on March 23rd? Maybe only buffered by a Retest premium ..
Most of our western governments are massively incompetent to place their trust into China without keeping their eyes open and without a Backup plan B.__ Interesting also how so-called government experts have gone on record earlier when masks were scarcer to deny that gloves and masks are useful when counter to that the South Korean Doctors Association has been recommending that all citizens wear masks and gloves, a common sense strategy to begin with. Goes to show how our governments think they can speak FALSEHOODS while covering their eyes believing they are invisible, just like Trumpet has shown us incredibly often.
how much are they paying Captain Obvious
Wasn't this a foregone conclusion weeks ago...
wow how did you know that ıncredıble
Well, they r a lil late too the party, almost all economist believe that we r already in recession, and they have data to prove dere point.
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