A quarter of developing nations are financially worse off than before the Covid-19 pandemic, the World Bank revealed. The organization's report, released today, highlights a significant economic setback for low-income countries. Many affected nations are located in sub-Saharan Africa.
The World Bank identified Botswana, Namibia, the Central African Republic, Chad, and Mozambique among those experiencing negative economic shocks between 2019 and the end of 2024. South Africa and Nigeria, despite population growth, also saw stagnant average incomes. Global growth has slowed since the pandemic's onset.
The report did not immediately detail specific market impacts. The World Bank is expected to release further analysis and recommendations. The findings underscore the uneven global recovery.
The World Bank, based in Washington, monitors and advises on global economic development. Its findings are closely watched by investors and policymakers.
The World Bank is likely to propose strategies for affected countries to stimulate growth. Further data releases are anticipated in the coming weeks.
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