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World Bank warns millions could fall into 'extreme poverty' during Covid-19 pandemic

BUSINESS DAILY
BUSINESS DAILY © FRANCE 24

The World Bank says the global economy is facing its deepest recession since World War II as a result of the coronavirus pandemic. Advanced economies are set to shrink 5 percent, while emerging economies are facing their first contraction in decades. Franziska Ohnsorge, lead author of the 2020 Global Economic Prospects report, tells FRANCE 24 that millions of people working in an informal capacity could slip into poverty despite government support. Also in the show: BP announces plans to slash 10,000 jobs as OPEC extends its oil production cuts. 

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