Washington-Sana
World Bank President David Malpas has announced that the global economy faces enormous losses, noting that the recovery will be hampered by a shortage of financial resources needed to offset the losses caused by the Covid 19 epidemic.
In an interview with France Press, Malpas said that the crisis will force developing countries to rethink their economic structures.
The World Bank disbursed $ 160 billion in emergency aid to about a hundred countries, but its president considered that the initial estimates for the epidemic's losses amounted to $ 5,000 billion, less than the truth.
He noted that estimates that 60 million people are below the poverty line are likely to rise as the crisis drags on.