The global economy is facing “staggeringly large” losses from the coronavirus pandemic and the recovery is hampered by a shortage of resources, World Bank President David Malpass said.

The initial estimate of $5 trillion in economic value destroyed by the measures against COVID-19 likely falls far short of the actual damage, Malpass told AFP news agency in an interview.  

The crisis will also force developing nations to rethink the structure of their economies, he said. 

Source: AlJazeera

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