Developing countries will take much time to recover from the losses caused due to the pandemic: World Bank
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Undoubtedly, the coronavirus pandemic has hard hit the global economy but the World Bank believes that developing countries will take much time to recover from economic losses caused due to the pandemic. The World Bank in an analysis said that the average emerging market country suffering a financial crisis could see potential output fall by 8% over a five-year period, with lost output for developing oil exporters falling 11%.