Developing Nations See One-Quarter Fall Below 2019 Income Levels, World Bank Warns
TL;DR Summary
About a quarter of developing countries are poorer now than in 2019 due to post-pandemic shocks, with many in sub-Saharan Africa; while some economies posted modest growth, global growth is slowing and not enough to reduce poverty. The World Bank notes China’s projected growth of about 4.4% this year and 4.2% next, and urges tighter budgets, more private investment and trade liberalization, and investment in technology and education to sustain growth amid high debt and aging populations.
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