The World Bank has released a report that reveals a significant increase in the income gap between the poorest and wealthier nations. This marks the first time this century that such a gap has grown, showing a serious structural regression in the global economy.
One out of every three of the poorest countries are now in a worse economic situation than before the pandemic. Low investment and high inflation rates are contributing to sluggish economic growth expected to continue in the coming years.
The disparity between the richest and poorest nations has increased over the past five years, with alarm bells ringing for the global economy. The deputy chief economist for the World Bank, Ayhan Kose, emphasized the severity of this reversal, stating that urgent action is needed to address this growing income gap and prevent further economic decline in these vulnerable nations.
Rising inequality poses a significant threat to global economic stability, requiring immediate attention and support from the international community. The report highlights the urgent need for action to address this growing income gap and prevent further economic decline in these vulnerable nations.
