Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

World Bank sees 'major global recession' due to pandemic

EconomyApr 03, 2020 11:10PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© 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.

World Bank sees 'major global recession' due to pandemic
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (6)
Chris Sundo
Chris Sundo Apr 04, 2020 1:33AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
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 ..
Chris Sundo
Chris Sundo Apr 04, 2020 1:25AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
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.
Michael Hartmann
Michael Hartmann Apr 03, 2020 9:06PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
how much are they paying Captain Obvious
James Hilton
James Hilton Apr 03, 2020 8:20PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Wasn't this a foregone conclusion weeks ago...
Emir Ateş
Emir Ateş Apr 03, 2020 7:57PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
wow how did you know that ıncredıble
Deepak Mangtani
Deepak Mangtani Apr 03, 2020 7:57PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
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.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email