“Even by the standards of systemic crises, this is a once in a century, global – truly global – crisis,” explains Carmen Reinhart, the World Bank’s newly-appointed Chief Economist, about the pandemic-led economic downturn.
In a special appearance on The Development Podcast, Reinhart and World Bank Group President David Malpass give us their perspective on the health of the global economy and what they believe a path to recovery looks like.
“More-so than the 2008 crisis,” according to Malpass, “this one is really hitting the poor, hitting the developing countries. It’s not only a financial crisis, but it’s a true deep, deep economic crisis.”
Plus: Pabsy Mariano joins hosts Paul Blake and Raka Banerjee to preview this year’s entirely virtual World Bank Group – IMF Annual Meetings and details how you can participate from home.
Show notes:
-Read Carmen and Vincent Reinhart’s article, “The Pandemic Depression”, in Foreign Affairs: https://www.foreignaffairs.com/articles/united-states/2020-08-06/coronavirus-depression-global-economy
-Get the latest on the 2020 World Bank Group – IMF Annual Meetings and plan to participate: http://live.worldbank.org