AlwaysFree: Global Economic Full Recovery Will Take Five Years: World Bank Chief Economist

Carmen Reinhart, the World Bank’s chief economist, said that global economic full recovery from the pandemic crisis is expected to take five years. A quick rebound after all the restrictions are lifted might be possible, but the full recovery will take much longer time. The statement was made in a remote intervention during the conference held in Madrid on Thursday,September 17. The recession from pandemic will last longer in some countries than others, as poorer countries will be impacted harder from crisis than wealthier countries and heighten the inequality. Reinhart also said that for the first time in two decades, the world will see global poverty rates rising following the crisis.