A quarter of developing nations are financially worse off than before the Covid-19 pandemic, the World Bank reported. Many low-income countries, particularly in sub-Saharan Africa, experienced economic setbacks in the six years leading to the end of 2024.
The World Bank identified Botswana, Namibia, the Central African Republic, Chad, and Mozambique among the affected nations. South Africa and Nigeria, despite a growing population, also saw stagnant average income growth during this period. This economic downturn reflects a global growth slowdown since the pandemic.
The report highlights the disproportionate impact on sub-Saharan Africa. The financial implications could destabilize markets and hinder investment in the affected regions. No immediate response from the named countries has been reported.
The World Bank's findings underscore the uneven global recovery post-pandemic. Further analysis is expected to assess long-term consequences and potential interventions. The World Bank will likely release updated economic forecasts and policy recommendations in the coming months.
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