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 downturn for many low-income countries. Sub-Saharan Africa is particularly affected.
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 experienced negative economic shocks. South Africa and Nigeria also failed to increase average incomes during this period, despite Nigeria's rapid population growth.
The report signals potential market instability and reduced investor confidence in affected regions. The World Bank did not immediately announce specific interventions but is expected to address the findings in upcoming meetings.
Global growth has slowed since the onset of the Covid-19 pandemic. This slowdown disproportionately impacts developing economies reliant on international trade and investment.
The World Bank will continue monitoring the situation and provide updated assessments in its future economic reports. Further analysis is expected to focus on strategies for sustainable recovery and resilience-building in vulnerable nations.
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