World Bank concerned about economic impact of COVID-19 in region
David Malpass.
President of the World Bank Group David Malpass said the bank is “very concerned about the human situation” the economic crisis caused by the COVID-19 pandemic will have on developing nations like The Bahamas.
Malpass was speaking on questions of whether the pandemic is leading to “a new debt crisis” in the Latin America and Caribbean region, as he addressed the press during the World Bank Group/International Monetary Fund (IMF) 2021 Virtual Spring Meetings.
The IMF in its recently released World Economic Outlook revised its 2021 projections for tourism-dependent Caribbean economies, like The Bahamas, down by 1.5 percentage points to 2.4 percent regional growth.