Foreign Affairs
Sep 20, 20201 min
The Pandemic Depression. The World Bank estimates that as many as 60 million people globally will be pushed into extreme poverty as a result of the pandemic.
The pandemic has created a massive economic contraction that will be followed by a financial crisis in many parts of the globe, as nonperforming corporate loans accumulate alongside bankruptcies. Sovereign defaults in the developing world are also poised to spike. Read more ...