South Asia finds itself in a perfect storm of adverse effects: World Bank
NEW DELHI - South Asia is on course for its worst economic performance in 40 years, with decades of progress in the battle against poverty at risk, because of coronavirus, the World Bank said Sunday.
"South Asia finds itself in a perfect storm of adverse effects. Tourism has dried up, supply chains have been disrupted, demand for garments has collapsed and consumer and investor sentiments have deteriorated," said a World Bank report. Regional heavyweight India, where the fiscal year began on April 1, will see growth of just 1.5-2.8 percent in its current financial year, down from an expected 4.8-5.0 percent for the year just ended, the bank predicted.The report also warned that the pandemic will reinforce inequality in the region, with the pandemic hitting informal workers with limited or no access to healthcare or social safety the hardest.
In the short term this means preparing weak healthcare systems, providing safety nets and securing access to food, medical supplies and necessities for the most vulnerable, it advised.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
Similar News:آپ اس سے ملتی جلتی خبریں بھی پڑھ سکتے ہیں جو ہم نے دوسرے خبروں کے ذرائع سے جمع کی ہیں۔
Qureshi commends South Korean govt for its effective response against Covid-19Foreign Minister Shah Mahmood Qureshi held a telephone conversation with the Foreign Minister of the Republic of Korea Ms Kang Kyung-wha on Friday. The
مزید پڑھ »
Votes for women: South Korea's first feminist party seeks parliament seatsSouth Korea is regularly ranked lowest in the developed world for gender equality, but for the first time a feminist party is seeking parliamentary seats at
مزید پڑھ »
South Pacific disease threat follows destructive cycloneTropical Cyclone Harold's trail of destruction through four Pacific nations could threaten a rise in disease, authorities warned Friday, as stretched health
مزید پڑھ »
South Korea virus patients vote early under quarantineSouth Korea is among the first countries to hold a parliamentary election during the pandemic
مزید پڑھ »
South Korea virus patients vote early under quarantineSouth Korea is among the first countries to hold a parliamentary election during the pandemic
مزید پڑھ »
India to extend world's largest pandemic lockdown for two weeksIndia's Prime Minister Narendra Modi is set to extend the world's biggest pandemic lockdown for two weeks, state ministers said after talks Saturday on the
مزید پڑھ »