World Bank forecasts slow growth but warns of possible debt crisis

World Bank forecasts slow growth but warns of possible debt crisis

The World Bank has released its biannual Global Economic Prospects report. Their economists except global growth of 2.5% in 2020 but warning of a potential debt crisis because of increasing global borrowing. In the report, the World bank highlighted four waves of debt accumulation over the past 50 years. The previous three all ended in a financial crisis in many developing countries.

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