World Bank: Global economy may take five years to recover

World Bank Chief Economist Carmen Reinhart, She said that it may take up to five years for the world economy to recover from the effects of the coronavirus.

“There will be a rapid recovery once the Coronavirus bans are lifted, but it may take up to five years for the economy to fully recover,” said Carmen Reinhart, Chief Economist at the World Bank.

Reinhart said the recession caused by the pandemic will last longer in some countries than others, and that poor countries will be more affected than wealthy countries.

Reinhart added that the global poverty rate will increase for the first time in 20 years due to the crisis.