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Reuters
Reuters
Business

World Bank sees 'major global recession' due to pandemic

FILE PHOTO: World Bank President David Malpass responds to a question from a reporter during an opening press conference at the IMF and World Bank's 2019 Annual Fall Meetings of finance ministers and bank governors, in Washington, U.S., October 17, 2019. REUTERS/Mike Theiler

World Bank Group President David Malpass on Friday said the rapidly spreading COVID-19 pandemic was expected to cause a "major global recession" that would likely hit the poorest and most vulnerable countries the hardest.

"We intend to respond forcefully and massively with support programs, especially for poor countries," Malpass said in a posting on the LinkedIn networking site, adding that he planned to speak soon with the leaders of Ethiopia, Kenya and other countries.

(Reporting by Andrea Shalal; Editing by Sandra Maler)

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