Washington: Corona epidemic is going to emerge as a huge threat to South Asia in the coming time. Because after getting out of this disease, all the countries of South Asia will face the challenge of fighting poverty. The World Bank released a report on Sunday, appealing to all countries to take positive steps towards economic development.
The bank has said that all countries of South Asia will have to work fast to deal with the health emergency. Important decisions have to be taken as soon as possible to protect the poor and the elderly (especially those who are at highest risk of infection). Also, in the coming times, the decisions required for economic recovery will also have to be churned. The World Bank's recent report 'South Asia Economic Focus' has projected economic decline in eight countries.
The reason behind this is stagnation in economic activities, stagnation of business, heavy burden on financial and banking sector. According to the World Bank report, the growth rate of the region in 2020 will be between 1.8% to 2.8%. The latest report is different from the estimate of six months ago in which the growth rate was said to be 6.3 percent. According to the report, South Asia will face such a poor growth rate for the first time in 40 years. Not only this, the report also warns that if the lockdown continues further, the growth rate may go negative in the coming days. That means even below zero.
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