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Priorities for Saving the Private Sector

16 28 10

WASHINGTON, DC – For most countries, navigating the protracted economic slump brought on by COVID-19 is starting to look more like a marathon than a sprint. According to our estimates at the International Finance Corporation (IFC), domestic private investment and foreign direct investment in emerging economies will fall this year by almost $700 billion and $250 billion, respectively, and may not return to pre-crisis levels until 2023.

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    Worse, the crisis is exacting a massive toll on the world’s poor and most vulnerable, jeopardizing decades of hard-won development gains. The World Bank warns that we are about to witness the first increase in global poverty........

    © Project Syndicate

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