Risk of financial ‘wasted decade’ for poor countries, World Bank warns

Global economy set to slow for third year in 2024, with poor countries especially hard hit, body says

The global economy is set to slow for a third successive year in 2024 and is now on course for its weakest half-decade of growth since the early 1990s, the World Bank has warned.

The Washington-based organisation said poor countries were being especially hard hit by a series of setbacks since the arrival of the Covid pandemic and there was a risk that the 2020s would be a wasted" decade.