World Bank Chief Economist Reinhart: The global Economic Recovery May Take 5 years

The chief economist at the World Bank, Carmen Reinhart, said that the global economy’s recovery from the crisis caused by the Corona pandemic may take five years.

“There will probably be a quick rebound as all the restriction measures linked to lockdowns are lifted, but full recovery will take as much as five years,” she said in a remote intervention during a conference in Madrid.

She added that the recession resulting from the pandemic will last longer in countries than others and will result in an imbalance in equality, given that the poorest countries will be affected more than the rich.

And she added that for the first time in twenty years, global poverty rates will increase after the crisis.