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Speaking remotely at a conference in Madrid, Reinhard said there will likely be a quick recovery as health restrictions are lifted, but a full recovery could take up to 5 years.
According to her, the recession caused by the pandemic will last longer in some countries and deepen inequalities, since the poor in rich countries will suffer more than the rest of the population and countries that are, in turn, poor will be the most affected. . than rich countries.
Reinhard added that the global poverty rate will rise for the first time in 20 years as a result of the pandemic.
How much does a pandemic cost per person?
According to an estimate by the Organization for Economic Cooperation and Development (OECD), the long-term bill for the COVID-19 pandemic could reach $ 7 trillion.
At the current level of the world’s population, this means an average loss of about $ 900 for every human being, no matter where you live.
The OECD forecast indicates an overall economic contraction of 4.5% by the end of the year and estimates for 2021 show an increase of 5%.
September 17, 4:55 PM
