World Bank boss warns of lack of funds for the poorest

The world economy is facing "abysmal losses" and the recovery will be hampered by the lack of funds to repair the damage caused by the coronavirus pandemic, warned the president of the World Bank in an interview with AFP.

David Malpass - whose institution has already spent $ 160 billion in emergency aid to some 100 states - the scale of the crisis will force developing countries to rethink the very structure of their economy .

For him, the devastating effect of the Covid-19 pandemic on the world economy is much greater than the 5,000 billion dollars of wealth destroyed, mentioned during a first estimate of the damage.

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