Chief Economist of the World Bank says that it will take 5 years for a full recovery after the Pandemic

World Bank’s Chief Economist Carmen Reinhart spoke in a remote conference held in Madrid.

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World Bank’s Chief Economist Carmen Reinhart spoke in a remote conference held in Madrid.

In the conference, she spoke about the impact of the COVID-19 pandemic on the economies of the world. She said that while there may be a quick turnaround once the lockdown restrictions are lifted across the globe, a full recovery might take as much as five years.

She said that the impact of the pandemic will be felt differently by people. The poorest in rich countries will be the most affected and the poorer countries will be harder hit than the richer ones.

She also said that the recession caused by the pandemic will last longer in some countries compared to others.