World Bank Chief Economist Carmen Reinhart, speaking at the Trends 2021 online forum, said that the global economy will not recover from the coronavirus crisis until 2025. Therein, in some countries the recession will last longer than in others. In particular, poor countries will be much more affected by the crisis, which could lead to an increase in the level of extreme poverty in the world from 8% to 9%. In a June World Bank report, experts predicted the worst recession since World War II. According to them, the decline in the global economy in 2020 will be 5.2%.
