A quarter of developing nations are financially worse off than before the Covid-19 pandemic, the World Bank revealed. The report, released today, highlights a significant setback for low-income countries. Many of these nations are located in sub-Saharan Africa.
The World Bank's analysis covers the six years leading up to the end of 2024. Botswana, Namibia, the Central African Republic, Chad, and Mozambique are among the affected countries. Economic stagnation also hit South Africa and Nigeria, despite Nigeria's rapid population growth. These nations failed to increase average incomes during this period.
The findings signal a slowdown in global growth since the pandemic. Sub-Saharan Africa is particularly vulnerable. The World Bank did not immediately announce specific interventions. Further analysis is expected to determine appropriate support measures.
The Covid-19 pandemic triggered widespread economic disruption. Supply chain issues and reduced global demand contributed to the downturn. The World Bank continues to monitor the situation. Future reports will assess the long-term consequences and potential recovery strategies.
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