¡°Even by the standards of systemic crises, this is a once in a century, global ¨C truly global ¨C crisis,¡± explains Carmen Reinhart, the World Bank¡¯s newly-appointed Chief Economist, about the pandemic-led economic downturn.In a special appearance on The Development Podcast, Reinhart and World Bank Group President David Malpass give us their perspective on the health of the global economy and what they believe a path to recovery looks like.¡°More-so than the 2008 crisis,¡± according to Malpass, ¡°this one is really hitting the poor, hitting the developing countries. It¡¯s not only a financial crisis, but it¡¯s a true deep, deep economic crisis.¡±Plus: Pabsy Mariano joins hosts Paul Blake and Raka Banerjee to preview this year¡¯s entirely virtual World Bank Group ¨C IMF Annual Meetings and details how you can participate from home. ---Show notes:-Read Carmen and Vincent Reinhart¡¯s article, ¡°The Pandemic Depression¡±, in Foreign Affairs: https://www.foreignaffairs.com/articles/united-states/2020-08-06/coronavirus-depression-global-economy -Get the latest on the 2020 World Bank Group ¨C IMF Annual Meetings and plan to participate: http://live.worldbank.org
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