October 18, 2021

The World Stock Markets Tips & Targets, News, Views & Updates

The World Stock Markets Tips & Targets, News, Views & Updates

Growth is biggest challenge for emerging economies: World Bank economist

Lack of growth is the biggest economic challenge facing developing economies, the World Bank’s chief economist said on Monday.

was essential for poverty reduction, as well as creating government revenues to use for fiscal space, social safety nets and the provision of public goods, said Carmen Reinhart, the World Bank’s chief economist.

“We had a challenge in many emerging markets and developing countries even before the pandemic, growth started to slow down around 2015,” she said.

“With growth comes jobs, with growth and jobs comes recovery.”

The hopes to raise $100 billion in donations for the Development Association fund for poorer countries to address “tragic reversals in development” caused by the COVID-19 pandemic, its president David Malpass said on Monday, adding that growth disparities between advanced economies and developing countries were worsening.

 

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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