More than half of the 75 poorest countries saw their GDP (Gross Domestic Product) per capita grow at a slower rate than rich countries in 2023/24, widening inequalities between countries. For one-third of them, GDP per capita is now lower than it was before the Covid-19 pandemic, according to a report released today by the World Bank on countries that tend to benefit from grants or loans with low interest rate, i.e. on very favorable terms, from the International Development Association (IDA), a branch of the World Bank. “The prosperity of these countries is essential to the long-term prosperity of the planet. Three current economic powerhouses, China, India and South Korea, were countries that benefited from IDA loans,” World Bank Chief Economist Intermit Gill said in a statement. “All three have been able to grow to eradicate extreme poverty and improve them […]
Source: News Beast
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