Global Economic Slowdown Hits Poor Countries Hardest, Risking 'Lost Decade' of Development
• Global economic growth slowing for 3rd straight year, now at weakest pace since early 1990s • Poor countries being especially hard hit; risk of a "wasted decade" for them • Developed economies recovering income levels from pre-pandemic, but only 2/3rds for low income countries • Urgent need for poor countries to increase investment and ease debt burdens • Estimated $2.4 trillion per year investment needed in developing countries to meet climate and development goals