Economics
Slow Vaccine Rollout Stands to Halve World Growth, World Bank’s Reinhart Says
- G-20 debt plan to help poor nations, World Bank economist says
- Some countries will need more permanent debt reductions
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Global growth this year could be less than half the World Bank’s 4% estimate if vaccine distribution doesn’t move quickly, said chief economist Carmen Reinhart.
A more drawn-out recovery will add to the pressure on nations that are burdened with debt, many of which will likely seek to restructure due to the pandemic, Reinhart said in an interview with Stephanie Flanders for Bloomberg’s The Year Ahead virtual summit. Emerging markets are going to have a “rough road ahead,” she said.