World Banks Say Economic Shocks Have the Greatest Impact on the Poorest Nations

World Banks Say Economic Shocks , Have the Greatest Impact , on the Poorest Nations .

According to the World Bank, the poorest countries in the world stand to lose the most from a faltering global economy.

'The Guardian' reports that the Washington-based body warned that the international community was failing to reach the UN’s 2030 anti-poverty development goals.

The world economy is in a precarious position, Indermit Gill, World Bank chief economist, via 'The Guardian'.

The World Bank also warned that the world was at risk of a fresh debt crisis across the world's most vulnerable nations.

Outside of east and south Asia, it is a long way from the dynamism needed to eliminate poverty, counter climate change, and replenish human capital, Indermit Gill, World Bank chief economist, via 'The Guardian'.

Despite revising up 2023 growth forecasts, the global economy continues to struggle as the impact of rising interest rates in wealthy nations ripples out to poorer countries.

Despite revising up 2023 growth forecasts, the global economy continues to struggle as the impact of rising interest rates in wealthy nations ripples out to poorer countries.

In emerging markets and developing economies, debt pressures are growing due to higher interest rates.

Fiscal weaknesses have already tipped many low-income countries into debt distress.

, Indermit Gill, World Bank chief economist, via 'The Guardian'.

In emerging markets and developing economies, debt pressures are growing due to higher interest rates.

Fiscal weaknesses have already tipped many low-income countries into debt distress.

, Indermit Gill, World Bank chief economist, via 'The Guardian'.

According to the global economic prospects report, 2023 is forecast to see just 2.1% growth globally.

That number is down from 3.1% in 2022 and 6% in 2021.

Meanwhile, the financing needs to achieve the sustainable development goals are far greater than even the most optimistic projections of private investment, Indermit Gill, World Bank chief economist, via 'The Guardian'.

Meanwhile, the financing needs to achieve the sustainable development goals are far greater than even the most optimistic projections of private investment, Indermit Gill, World Bank chief economist, via 'The Guardian'